Logo of Savola Group
Savola Group announced today, Sept. 18, that its rights issue rump offering was 814.2% covered, as follows:
|
Offering Details |
|
|
Number of Shares Sold |
35.10 mln |
|
Total Rump Offering Proceeds |
SAR 943.45 mln |
|
Coverage Ratio (%) |
814.2% |
|
Average Price/Share Sold |
SAR 26.88 |
|
Net Compensation for Holders of Rights & Fractional Shares |
SAR 592.43 mln |
|
Date of Depositing Shares into Shareholders Accounts |
Sept. 26, 2024 |
Subscription to the rights issue ended on Sept. 10, according to Argaam's data.
During the subscription period, which began on Aug. 29, the company offered 600 million shares at SAR 10 each, totaling SAR 6 billion, to increase capital by 112.36% from SAR 5.34 billion to SAR 11.34 billion.
The subscription coverage reached 94.2% of the total offered shares, with 564.90 million out of 600 million new shares subscribed at a value of SAR 5.6 billion.
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