Riyadh – Mubasher: Batic Investments and Logistics' right issues were 84.9% subscribed at a total value of SAR 254.7 million.

A total of 25.47 million shares were subscribed from the newly offered shares out of a total number of 30 million new shares, according to a bourse filing on Sunday.

The rump shares, totalling 4.529 million shares, will be offered to some institutional investors upon submitting purchase offers.

The rump shares will be allocated first to institutional investors with the highest bid.

In the meantime, the shares will be allocated to the underwriter at the offering price if they remained unpurchased.