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Savola Group announced today, Sept. 11, results of the rights issue trading and new shares subscription, as well as details of the rump offering, as follows:
|
Rights Issue Details |
|
|
Number of Offered Shares |
600 mln |
|
Number of Subscribed Shares |
564.90 mln |
|
Value of Subscribed Shares |
SAR 5.64 bln |
|
Coverage Ratio (%) |
94.2% |
|
Number of Rump Shares |
35.10 mln |
|
Date of Rump Offering |
Sept. 15-16, 2024 |
Rump shares will be offered at the minimum of the offering price to several institutional investors, who shall submit offers to purchase the rump shares, according to a Tadawul filing.
Moreover, these shares will be allocated to institutional investors of the highest to lowest bids (provided they are not less than the offer price). The shares will be allocated proportionately to institutional investors who make the same offer.
If institutional investors have not subscribed to all the rump shares, they will be allocated to the underwriters, Riyad Capital and ANB Capital, which will buy them at the offering price.
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