Saudi Paper says remaining rights issue shares 433.1% oversubscribed

03/01/2021 Argaam

Saudi Paper Manufacturing Co. logo

Saudi Paper Manufacturing Co. (SPM) announced the results of rump offering and the final allocation of its rights issue shares, with a coverage ratio of 433.1%, according to a bourse statement.

 

Rights Issue Coverage

Total offered shares

10 mln shares

Number of remaining shares

596,414 shares

Date of remaining shares offering

Dec. 29-30, 2020

Number of shares sold

596,414 shares

Coverage ratio

433.1%

Proceeds from remaining shares sale

SAR 32.46 mln

Average sale price

SAR 54.43/share

Net compensation for Rights & Fractional Shares Holders 

SAR 26.50 mln

Date of depositing shares in shareholders' account

Dec. 7, 2021
 

On Dec. 27, SPM announced the results of rights issue trading, noting that more than 9.4 million shares were subscribed, valued at SAR 94.04 million, from the offer of 10 million new shares, according to data compiled by Argaam.

 

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