Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain KSA) announced that its rights issue was 86.76% subscribed.

Investors subscribed to 390.44 million shares at a value of SAR 3.904 billion out of total 450 million new shares, according to a bourse disclosure on Sunday.

The remaining shares, amounting to 59.56 million, will be offered to institutional investors on 3-4 November.

In October, the company’s extraordinary general meeting (EGM) approved to raise its capital by 100.3% through a rights issue to SAR 8.987 billion from SAR 4.487 billion.