A branch of The Saudi Investment Bank
The Saudi Investment Bank (SAIB) announced in a bourse statement today, Sept. 5, the results of the treasury shares sale, noting that by the end of the rump offering period, the coverage percentage reached 648%.
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Treasury Shares Sale Details |
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Number of Shares Sold |
9.75 mln |
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Proceeds from Sale of Unsubscribed Shares |
SAR 151.75 mln |
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Average Price of Shares Sold |
SAR 15.56 |
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Coverage Ratio |
648% |
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Date of Depositing Shares into Shareholders Accounts |
Sept. 9, 2021 |
According to data compiled by Argaam, SAIB’s rights issue subscription period for treasury shares closed on Aug. 26.
The rights trading and the treasury shares purchase period started on Aug. 16, by offering 75 million shares of the bank’s treasury shares at a price of SAR 13.50 per share.
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