GO sets period for rights issue, new shares subscription

Logo of Etihad Atheeb Telecommunication Co. (GO)

Etihad Atheeb Telecommunication Co. (GO) determined the period of its rights issue trading and subscription to the new shares, according to a statement to Tadawul today, Feb. 8.

Both will start on Feb. 12. However, rights issue trading will end on Feb. 19, while the period for subscription to new shares will expire on Feb. 25, the statement indicated.

Right-holders may exercise their subscription right, in whole or in part, to the new shares in proportion to the rights existing in their portfolios. For registered shareholders and new investors, rights trading and new shares subscription will be as per the prospectus.

Any unsubscribed shares and fractional shares will be offered to institutional investors, in accordance with the details set in the prospectus. Alinma Investment will underwrite the new shares that remain unsubscribed after the rump offering.