Logo of Ash-Sharqiyah Development Co.
Ash-Sharqiyah Development Co. announced that the rump offering was 613.79% oversubscribed, according to a statement to Tadawul.
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Offering Details |
|
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Number of Shares Sold |
3.09 mln |
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Total Proceeds from Selling Rump Shares |
SAR 57.37 mln |
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Coverage Ratio (%) |
613.79 % |
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Average Selling Price per Share |
SAR 18.58 |
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Net Compensation for Holders of Rights & Fractional Shares |
SAR 26.49 mln |
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Date of Depositing Shares in Shareholders’ Accounts |
June 5, 2023 |
Subscription to new shares and rights trading ended on May 23, Argaam data showed.
The company's subscription to new shares and rights trading began, on May 11, to increase capital by 300%, or SAR 225 million, to SAR 300 million from SAR 75 million, through offering 22.5 million shares at SAR 10 each, according to data available with Argaam.
Ash-Sharqiyah Development Co. announced that its rights issue was 86.28% covered, with 19.41 million out of 22.5 million offered shares subscribed, according to Argaam.
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