Naseej Oversubscribes 95.85% of the Rights Issue

Naseej International Trading Company announced on Monday the results of right issues trading and new shares subscription, as well as the details of the unsubscribed shares sale.

A number of (14,378,230) shares were subscribed from the new offered shares out of total number of (15,000,000) new shares or 95.85%, with a value of total amounted to SAR143,782,300.

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 (provided that it is not less than the offering price).

The shares will be allocated proportionately to the institutional investors submitting the same offer. As for fractional shares (if any), they will be added to the rump shares and treated similarly.

The Rump offering period for the unsubscribed shares amounting to (621,770) shares, shall start at 10:00 am on Wednesday 24.11.2021, and continue until 5:00 pm on Thursday 25.11.2021.