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Logo of Saudi Industrial Development Co. (SIDC)
Saudi Industrial Development Co. (SIDC) announced the results of the rump offering and allocation of rights issue shares, with the rump tranche oversubscribed by 479.65% at the end of the subscription period.
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Rump Offering Coverage Details |
|
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Number of Sold Shares |
5.42 mln |
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Total Rump Offering Proceeds |
SAR 63.13 mln |
|
Coverage Ratio |
479.65% |
|
Fractional Shares |
36,841 shares |
|
Average Price |
SAR 11.65 |
|
Net Compensation for Holders of Rights & Fractional Shares |
SAR 8.92 mln |
The company will receive the aggregate offer price collected from the rump offering, while the proceeds exceeding the offer price, if any, will be distributed to those entitled no later than Dec. 23, 2025.
According to Argaam’s data, SIDC announced recently the results of the rights issue trading and new shares subscription, as well as the details of the rump offering. The number of subscribed shares amounted to 11.08 million, out of nearly 16.5 million offered shares, with a coverage ratio of 67.2%.
The rights issue is aimed at raising the company’s capital from SAR 135 million (13.5 million shares) to SAR 300 million (30 million shares).
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