The second phase of the IPO of Saudi Arabian Mining Company (Maaden), which started on November 30, 2014, ends today.
It was allowed during the 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 were not allowed to be traded within this phase.
The results of the first and second phases of the IPO will be announced within few days; the company said in a statement obtained by Argaam.
The remaining shares after the first two phases will be offered to some investment institutions by the IPO lead managers.
Those institutions should submit purchase proposals for the offered shares and shares will be allocated to the highest proposals first.