Saudi Arabian Amiantit Co. Announces the Results of Right Issues Trading and New Shares Subscription, and the details of Selling Unsubscribed Shares
| Element List | Explanation |
|---|---|
| Introduction | Saudi Arabian Amiantit Company Announces the Results of Right Issues Trading and New Shares Subscription, and the details of Selling Unsubscribed Shares. |
| Total Number of Subscribed Shares out of the total Number of New Offered Shares | A number of 31,778,470 shares were subscribed from the new offered shares out of total number of (34,650,000) shares. |
| Value of the Subscribed Shares | 317,784,700 Saudi Riyals |
| Coverage Percentage out of Total New Offered Shares (%) | 91.71 % |
| Remaining Offering Mechanism | Rump Shares will be offered at a minimum of the Offering Price to a number of Institutional Investors, and such Institutional Investors shall submit offers to purchase the Rump Shares. Rump Shares will be allocated to the Institutional Investors with the highest bid, then the lowest and the lowest. The shares will be allocated proportionately to the Institutional Investors submitting the same offer.
In the event that Institutional Investors have not subscribed in all the Rump Shares, the remaining will be allocated to the underwriter who will buy them at the Offering Price. |
| Remaining Offering Start Date | 2024-03-13 Corresponding to 1445-09-03 |
| Remaining Offering End Date | 2024-03-14 Corresponding to 1445-09-04 |
| Specification of the Remaining Offering Period Hours | The Rump Offering Period for the unsubscribed shares amounting to 2,871,530 shares, shall start at 10:00 am on Wednesday 03/09/1445 H, corresponding to 13/03/2024G and continue until 5:00 pm on Thursday 04/09/1445 H, corresponding to 14/03/2024G. |
| Additional Information | Any questions or quires should be communicated to Inventors Relations Department by:
Tel: 013-8471500 Extn. 1117
Or by email : wkishk@amiantit.com |
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