Al-Baha pays compensation for unsubscribed rights issue shares

07/04/2022 Argaam
Logo of Al-Baha Investment and Development Co.

Logo of Al-Baha Investment and Development Co.

Al-Baha Investment and Development Co. announced today, April 7, distributing a total of SAR 11.20 million in compensation to the rights issue owners who did not subscribe to the new shares.

 

The lead manager will deposit the funds into the eligible investors’ accounts, the company said in a bourse statement.

 

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

 

The subscription period began on Feb. 28, and was aimed at increasing 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.

 

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