Amiantit rump offering 556.15% oversubscribed

Logo of Saudi Arabian Amiantit Co.

Saudi Arabian Amiantit Co.’s rump offering was 556.15% oversubscribed, according to a statement to Tadawul. 

 

Details

Number of Shares Sold

2.87 mln

Total Proceeds

SAR 69.73 mln

Coverage Ratio

556.15%

Average Selling Price

SAR 24.28 a share

Net Compensation for Shareholders

SAR 41.02 mln

Date of Shares Deposit

March 21, 2024

 

Subscription to Amiantit's rights issue ran from Feb. 27 to March 10. As much as 34.65 million rights shares were offered at an offer price of SAR 10 each, totaling SAR 346.5 million. This is to raise the company’s capital from SAR 99 million to SAR 445.5 million, Argaam's data showed.

 

The rights issue was 91.71% covered, as 31.78 million out of a total of 34.65 million new shares were subscribed for SAR 317.78 million.


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Amiantit rights issue 91.71% subscribed

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