Thimar rights issue 75.24% covered

25/10/2023 Argaam
One of Thimar’s branches

One of Thimar’s branches

Thimar Development Holding Co. announced today, Oct. 25, the results of rights trading and subscription to new shares, as well as the details of the rump offering.

 

Subscription Details

Number of offered shares

15 mln

Shares subscribed  

11.29 mln

Value of shares subscribed  

SAR 112.87 mln

Coverage

75.24%

Shares remaining

3.71 mln

Unsubscribed shares sale date

Oct. 29-30, 2023
 

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

 

In addition, the remaining shares will be allocated to institutional investors pro rata, the statement noted. 

 

In the event that institutional investors have not subscribed to all the rump shares, they will be allocated to the underwriter that will buy them at the offering price, the statement added. 

 

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