Logo of Saudi Arabian Amiantit Co.
Saudi Arabian Amiantit Co.’s rump offering was 556.15% oversubscribed, according to a statement to Tadawul.
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Details |
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Number of Shares Sold |
2.87 mln |
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Total Proceeds |
SAR 69.73 mln |
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Coverage Ratio |
556.15% |
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Average Selling Price |
SAR 24.28 a share |
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Net Compensation for Shareholders |
SAR 41.02 mln |
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Date of Shares Deposit |
March 21, 2024 |
Subscription to Amiantit's rights issue ran from Feb. 27 to March 10. As much as 34.65 million rights shares were offered at an offer price of SAR 10 each, totaling SAR 346.5 million. This is to raise the company’s capital from SAR 99 million to SAR 445.5 million, Argaam's data showed.
The rights issue was 91.71% covered, as 31.78 million out of a total of 34.65 million new shares were subscribed for SAR 317.78 million.
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