SAIB treasury rights see 2 negotiated deals worth SAR 13.7 mln

23/08/2021 Argaam

A branch of Saudi Investment Bank

Saudi Investment Bank (SAIB) saw two negotiated deals today, Aug. 23, on its treasury rights for a total of SAR 13.7 million.

  

A negotiated deal involves a stock purchase based on a bargain between buyers and sellers, apart from market price. The negotiated price does not impact directly on market price.

 

Key Facts

Bank

Rights Price

(SAR)

Negotiated Price (SAR)

Rights Traded

Value

(SAR mln)

SAIB treasury rights

2.16

2.00

3,029,232

6.06

3,798,924

7.60

 

The rights trading period ends today, Aug. 23, according to data compiled by Argaam. 

 

SAIB announced a plan to sell 75 million of its owned treasury shares, representing 9.99% of capital, through a mechanism similar to a rights issue. 

 

Holders of rights issue are allowed to exercise their right to buy treasury shares up to the number of rights available in their portfolios. 

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