Saudi Paper rights issue 92.56% covered

06/11/2022 Argaam
Logo ofSaudi Paper Manufacturing Co.

Logo of Saudi Paper Manufacturing Co.

Saudi Paper Manufacturing Co. (SPM) announced today, Nov. 6, the results of right issue trading and new shares subscription, as well as the details of the unsubscribed shares sale.

 

Subscription Details

Number of offered shares

14.50 mln

Number of subscribed shares

13.42 mln

Value of subscribed shares 

SAR 134.21 mln

Coverage Ratio (%)

92.56%

Number of remaining shares

1.08 mln

Date of reoffering of remaining share

Nov. 7-8, 2022
 

 

Rump shares will be offered to a number of institutional investors, provided those institutions submit purchase offers for the rump shares, the company said in a statement to Tadawul.

 

The remaining shares will be allocated to institutional investors pro rata. Unsubscribed shares will be offered to the underwriter, Alinma Investment Co., at the offering price.

 

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