Riyadh - Mubasher: The Saudi Arabian Amiantit Company said a total of 10.623 million shares of the new offered shares have been subscribed at a value of SAR 106.2 million.

The firm’s rights issue was subscribed by 88.53%, according to a bourse disclosure on Sunday.

The remaining shares, amounting to 1.376 million shares, will be reoffered to a number of institutional investors, where they will submit purchase offers. The remaining shares will be allocated to investment institutions on a pro-rata basis; with priority given to those offering higher prices, provided that the prices are not less than the offering price.

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

The reoffering process will take place from 22 to 23 December 2020.