Riyadh – Mubasher: Anaam International Holding Group said a total of 8.019 million shares of the newly offered shares have been subscribed at a value of SAR 80.2 million.

The company’s rights issue was subscribed by 89.10%, according to a stock exchange statement on Sunday.

The remaining shares, totalling 980,656 shares, will be offered to a number of institutional investors. Investment institutions will be allocated the remaining shares on a pro-rata basis. 

The remaining share amount, if any, will be purchased by the underwriter at the offering price. 

The Tadawul-listed firm said the remaining offering process will take place from 17 to 18 November 2020.

On 28 October, the company’s extraordinary general meeting (EGM) approved raising the capital by 600% or SAR 90 million via a rights issue to finance and implement future plans and projects.