Riyadh – Mubasher: Tihama Advertising and Public Relations Company has announced on Sunday the results of the remaining offering and the allotment of the rights issue.

The company’s rights issue was subscribed by 1,702.4% at the end of the reoffering period, according to a bourse filing.

A total of 1.32 million shares were sold at an average share price of SAR 20.1. Total proceeds from selling unsubscribed shares amounted to SAR 26.585 million.  

On 9 August, the company revealed that a total of 8.677.641 million shares of the newly offered shares were subscribed at a value of SAR 86.776 million and that the rights issue was subscribed by 86.78%.

The reoffering process took place from 11 to 12 August.