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Al Sorayai launches rights issue trading

Al Sorayai launches rights issue trading
The subscription period will end on Thursday 6 February
-0.44% 13.66 -0.06

Riyadh – Mubasher: Al Sorayai Trading and Industrial Group (Al Sorayai) announced on Monday the start of the rights issue trading and new shares subscription period.

A priority rights offer of around 11.27 million ordinary shares will raise the company’s capital by SAR 112.66 million to SAR 178.16 million from SAR 65.5 million, according to a statement to the Saudi Stock Exchange (Tadawul).

Trading the rights issue shares will continue for a week until 3 February, while the subscription period is set to end on Thursday 6 February, the statement noted.

As previously scheduled, the Securities Depository Center Company (Edaa) announced the deposit of Al Sorayai subscribed securities into the centre’s accounts of eligible securities’ holders today.

Last month, the Saudi Capital Market Authority (CMA) approved Al Sorayai’s capital increase request.