Riyadh - Mubasher: Sadr Logistics Company has announced the final allocation of rights issue shares, with the rump shares offering oversubscribed by 7,011%.

The Saudi listed company sold 172,471 shares, which were unsubscribes, at a value of SAR 18.35 million with an average price of SAR 106.44 per share, according to a bourse filing on Sunday.

Sadr Logistics will deposit the shares into shareholders accounts on 30 December.

Earlier this month, the company's extraordinary general meeting (EGM) approved a 600% capital hike to SAR 175 million.