Logo of Wafrah for Industry and Development Co.
Wafrah for Industry and Development Co. announced today, July 3, the results of its right issues trading and new shares subscription, as well as details of the rump offering.
The company said that subscription ratio amounted to 77.81%, as shown in the table below:
|
Rights Issue Details |
|
|
Number of Rights Issue Shares |
15.43 mln |
|
Number of Subscribed Shares |
12.01 mln |
|
Subscription Value |
SAR 120.09 mln |
|
Coverage Ratio (%) |
77.81% |
|
Number of Rump Shares |
3.42 mln |
|
Date of Rump Shares Reoffering |
July 5-6, 2022 |
Wafrah said rump shares will be offered to a number of institutional investors, who will submit purchase offers for such shares.
Shares will be allocated to institutional investors with the highest offer to the lowest (provided that it is not less than the offer price), with shares being allocated pro rata among those institutional investors that have tendered offers at the same price.
If the institutional investors do not subscribe to all of the rump shares, the remainder will be allocated to the underwriter, AlJazira Capital, to subscribe to them at the offer price.
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