Tadawul: the end of tradable rights of Ma’aden’s IPO
The Saudi Arabian Mining Company (Maaden) said that the First tranche of its IPO and the Rights trading period ended on Thursday 27/11/2014.
The right’s price closed at SAR 6.10, a 20% decline compared to the indicated right value of SAR 7.59 at the beginning of the IPO.
Ma’aden’s second tranche of rights issue IPO will commence on November 30, 2014 until December 02, 2014.
According to data available on “Argaam”, it is allowed during second tranche for all right holders whether shareholders or investors who bought the rights from the market to exercise their right to subscribe for new shares but rights are not allowed to be traded within this phase.