Wafrah pays SAR 56.33 mln compensation for unsubscribed rights shares

04/08/2022 Argaam

Wafrah for Industry and Development Co. said a total of SAR 56.33 million was distributed today, Aug. 4, as compensation to rights holders, who did not exercise their rights to subscribe to the new shares, according to a bourse filing. 
 

Wafrah’s shareholders approved a capital increase via a SAR 154.3 million rights issue during the extraordinary general assembly meeting (EGM) held on June 14, according to data available with Argaam.   
 

The right issue was 77.81% subscribed, and the rump offering was 330.7% oversubscribed. 

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