Logo of Saudi Real Estate Co. (Al Akaria)
Saudi Real Estate Co. (Al Akaria) announced that the rump offering was 1,238% oversubscribed. By the end of the rump offering period, 7.73 million unsubscribed shares were sold at SAR 14.14 a share, totaling SAR 109.389 million, according to a bourse filing.
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Offering Details |
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Number of Shares Sold |
7.73 mln |
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Total Proceeds from Selling Rump Shares |
SAR 109.389 mln |
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Coverage Ratio |
1,238% |
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Average Share Price |
SAR 14.14/share |
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Net Compensation for Rights Issue & Fractional Shares |
SAR 18.096 mln |
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Date of Depositing Shares in Shareholders' Accounts |
June 23, 2022 |
The company will receive the aggregate offer price collected from the rump offering. Proceeds exceeding the offer price, if any, will be distributed to those entitled to them not later than June 30, 2022.
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