Ash-Sharqiyah Development Company Announces the Results of Right Issues Trading and New Shares Subscription, and the details of Selling Unsubscribed Shares
| Element List | Explanation |
|---|---|
| Introduction | Ash-Sharqiyah Development Company announces the results of the Rights Issue Trading and New Shares Subscription, as well as the details of the Unsubscribed Shares sale. |
| Total Number of Subscribed Shares out of the total Number of New Offered Shares | A number of 19,412,294 shares were subscribed from the new offered shares out of total number of 22,500,000 new shares. |
| Value of the Subscribed Shares | 194,122,940 Saudi Riyals |
| Coverage Percentage out of Total New Offered Shares (%) | 86.28 % |
| Remaining Offering Mechanism | Rump Shares will be offered at a minimum of the Offering Price to a number of Institutional Investors, and such Institutional Investors shall submit offers to purchase the Rump Shares. Rump Shares will be allocated to the Institutional Investors with the highest bid, then the lowest and the lowest. The shares will be allocated proportionately to the Institutional Investors submitting the same offer. In the event that Institutional Investors have not subscribed in all the Rump Shares, the remaining will be allocated to the underwriter who will buy them at the Offering Price. |
| Remaining Offering Start Date | 2023-05-28 Corresponding to 1444-11-08 |
| Remaining Offering End Date | 2023-05-29 Corresponding to 1444-11-09 |
| Specification of the Remaining Offering Period Hours | The Rump Offering Period for the unsubscribed shares amounting to 3,087,706 shares, shall start at 10:00 am on Sunday 08/11/1444H corresponding to 28/05/2023G and continue until 5:00 pm on Monday 09/11/1444H corresponding to 29/05/2023G. |
| Additional Information | Any questions or quires should be communicated to Inventors Relations Department by calling: +966 13 8099439 ETX 44
Or by email [email protected] |
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