Riyadh – Mubasher: L'azurde Company for Jewelry said the rights issue to raise its capital resulted in 12.77 million subscribed shares at a value of SAR 127.77 million.

This volume represented 88.12% of the total 14.5 million shares L'azurde has offered for subscription during the period of 7-17 June, according to a bourse filing on Sunday.

The remaining shares of 1.72 million will be offered for subscription on 22-23 June.

Earlier this month, the shareholders of the company approved to raise the capital by 33.72% or SAR 145 million through a rights issue, after L'azurde had obtained the Saudi Capital Market Authority’s (CMA) nod for the capital hike in April.