Al-Baha says rump offering 568.7% oversubscribed

20/03/2022 Argaam
Logo ofAl-Baha Investment and Development Co.

Logo of Al-Baha Investment and Development Co.

Al-Baha Investment and Development Co. announced that the rump offering was 568.7% oversubscribed, according to a bourse filing today, March 20.

 

Offering Details

Number of Shares Sold

1.26 mln

Total Proceeds from Selling Rump Shares

SAR 23.84 mln

Coverage Ratio (%)

568.7%

Average Share Price

SAR 18.85

Net Compensation for Rights Issue & Fraction Shareholders

SAR 11.19 mln

Date of Depositing Shares in Shareholders Accounts

March. 23, 2022

 

The rights subscription period ended on March 10, according to data available with Argaam.

 

The subscription period began on Feb. 28, to increase the company’s capital from SAR 177 million to SAR 297 million, through a rights issue of 12 million shares at SAR 10 per share.

 

For more IPO

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