Tihama Advertising and Public Relations Co.’s rights issue shares were 86.8% subscribed, as subscribers injected SAR 86.78 million in 8.68 million shares, the company said in a bourse filing.

 

The remaining shares will be reoffered to institutional investors on a pro rata basis on August 11-12, 2020.

 

On July 20, Tihama kicked off subscription to new shares and rights trading to raise its capital from SAR 75 million to SAR 175 million, Argaam reported.

 

The company offered 10 million shares at SAR 10 each at a total value of SAR 100 million.

 

Rights subscription period ended on Thursday, August 6.

 

Rights Issue Details

Number of rights issue shares

10.0 mln shares

Number of subscribed shares

8.68 mln shares

Subscription value

SAR 86.78 mln

Coverage ratio (%)

86.78%

Number of remaining shares

1.32 mln shares

Period of offering remaining shares

Aug. 11-12, 2020

 

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