Saudi Fisheries to pay compensation for unsubscribed rights issue shares

Saudi Fisheries Co. said it will distribute on July 9, 2020, an amount of SAR 25.17 million, representing compensation for unsubscribed shares.

The amount will be paid to eligible shareholders who did not exercise their rights to subscribe to new shares during the company’s rights issue, the company said in a bourse statement.

The company offered 29.89 million shares at SAR 10 each to raise its capital to SAR 400 million from SAR 101.1 million, according to data compiled by Argaam.