Middle East Paper Co. announces the results of the subscription to the new shares by capital increase with suspension of Rights Issue Shares
| Element List | Explanation |
|---|---|
| Introduction | With reference to the approval of the Capital Market Authority to increase the capital of Middle East Paper Company (the "Company") by an amount of 199,999,990 Saudi riyals on 20/05/1445H (corresponding to 04/12/2023G) through share issuance with suspension of preemptive rights of the existing shareholders, and the Company’s announcement on the Tadawul website on 18/06/1445H, (corresponding to 31/12/2023G) announcing the determination of the period of subscription to the new shares to increase capital with suspension of preemptive rights.
The Company would like to announce the results of the subscription to the new shares by capital increase with suspension of preemptive rights. |
| The number of the shares subscribed | 19,999,999 |
| The value of the shares subscribed | 629,999,968 |
| The coverage percentage of the total new shares offered(%) | 100 % |
| The total proceeds arising from the subscription | 629,999,968 |
| the details if all new shares are not subscribed on the specified expiration date of the offering | not applicable |
| Price of offering | 31.5 % |
| Date of depositing new shares into the accounts of subscribers | 2024-01-04 Corresponding to 1445-06-22 |
| Additional Information | The investor who owned capital increase shares with suspension of Rights Issue Shares, shall not dispose of these shares during the two years following the date of its listing, as per the waiver issued by the Capital Market Authority.
The deposit of the new shares into the targeted investor’s account will be announced through the Securities Depository Center Company (“Edaa”) |
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