Shams says rump offering 136.93% oversubscribed

15/12/2022 Argaam
Logo ofTourism Enterprise Co. (Shams)

Logo of Tourism Enterprise Co. (Shams)

Tourism Enterprise Co. (Shams) announced that the rump offering was 136.93% oversubscribed, according to a statement to Tadawul today, Dec. 15.

 

Offering Details

Number of Shares Sold

7.38 mln 

Total Proceeds from Selling Rump Shares

SAR 73.82 mln

Coverage Ratio (%)

136.93%

Average Selling Price per Share

SAR 10.68

Net Compensation for Holders of Rights & Fractional Shares 

SAR 5.02 mln

Date of Depositing Shares in Shareholders Accounts

Dec. 20, 2022
 

Subscription to new shares and rights trading ran from Nov. 27 to Dec. 12, Argaam’s data showed.

 

The SAR 525.7 million rights issue saw a total of 52.57 million shares were offered at SAR 10 each. This came to raise the company’s capital from SAR 52.57 million to SAR 578.24 million.

 

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