Logo of Tihama Advertising and Public Relations Co.
Tihama Advertising and Public Relations Co. announced the results of rump offering and final allocation of shares of its latest rights issue, saying the rump offering was 883.70% oversubscribed, according to a statement to Tadawul.
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Rump Offering Details |
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Number of Shares Sold |
5.61 mln |
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Average Selling Price per Share |
SAR 17.13 |
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Coverage Ratio (%) |
883.70% |
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Total Proceeds from Selling Rump Shares |
SAR 96.05 mln |
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Net Compensation for Holders of Rights & Fractional Shares |
SAR 39.97 mln |
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Date of Depositing Shares into Shareholders Accounts |
May 8, 2023 |
Earlier, Tihama had offered 35 million shares, at SAR 10 each, to increase capital to SAR 400 million from SAR 50 million. The rights offering closed on April 25, Argaam earlier reported.
The company said its rights issue was 83.98% covered, adding that investors injected SAR 293.92 million, subscribing to 29.39 million out of the 35 million shares on offer.
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