Al Kathiri remaining rights issue 2,817% oversubscribed

Al Kathiri Holding Co.’s remaining rights issue shares were 2,817.4% oversubscribed, with a total value of SAR 5.33 million from 70,092 shares at SAR 76.16 per share, the company said in a bourse filing.

The net proceeds from the rights issue and fractional shares is SAR 4.64 million, the firm noted, adding the new shares will be added into shareholders accounts on Nov. 4, 2020.

On Oct. 12, Al Kathiri kicked off subscription to new shares and rights trading to raise its capital from SAR 45.21 million to SAR 90.42 million.

The rights issue shares were 98.45% subscribed, as investors injected SAR 44.51 million in 4.45 million shares.