Ma’aden finalizes the first tranche of its rights issue today

Thursday November 27, 2014 is the last day of Saudi Arabian Mining Company- Ma’aden’s IPO (First tranche) to raise its capital from SAR 9.25 billion to SAR 11.68 billion.
 

Ma’aden offered 243.5 m shares on Tuesday November 18, 2014 in its first tranche at SAR 23/share for shareholders registered in the Company’s registry on November 13, 2014 (Extraordinary GA day) with a total value of SAR 5.6 billion IPO.

According to data available on “Argaam”, Ma’aden’s second tranche of rights issue IPO will commence on November 30, 2014 until December 02, 2014.
 

It is allowed during second tranche that all rights holders whether shareholders or investors who bought the rights from the market to exercise their right to subscribe for new shares but rights are not allowed to be traded within this tranche.