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Sadr Logistics Co.’s rights issue was 98.85% covered, as subscribers injected SAR 148.28 million in 14.83 million new shares, the company said in a bourse filing. 

 

Rights Issue Details

Number of rights issue shares

15 mln 

Number of subscribed shares

14.83 mln

Subscription value

SAR 148.28 mln

Coverage ratio (%)

98.85%

Number of rump shares

172,471

Rump offer period

Dec. 21-22, 2021

 

The rump shares will be offered to a number of institutional investors, provided that those institutions bid for these shares. 

 

Rump shares will be allocated first to the institutional investors with the highest bids. The shares will be allocated proportionately to the institutional investors submitting the same offer. Fractional shares (if any) will be added to the rump shares and treated similarly. 

  

The rump offer for 172,471 shares will start from 10am on Dec. 21, until 5pm on Dec. 22. 

 

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