Al-Omran: Right Issues subscription coverage reaches 95.31%, rump offering period begins on Wednesday

Al-Omran Industrial Trading Company (the “Company”) announced on Tuesday the results of right issues trading and new shares subscription, as well as the details of the rump offering.

It explained that a number of 5,718,723 shares were subscribed for from the total of the 6,000,000 new shares, and the value of the subscribed shares amounted to 57.18 million riyals, with a coverage rate of 95.31% of the total new shares offered.

The Company said today on Tadawul that the Rump shares will be offered to a number of institutional investors (the “Institutional Investors”) who will submit purchase offers for the rump shares, and the shares will be allocated to Institutional Investors with the highest offer to the lowest (provided that it is not less than the offer price), with shares being allocated on a proportional basis among those institutional investors that have tendered offers at the same price.

The Company explained that If the Institutional Investors do not subscribe in all of the rump shares, the remaining unsubscribed shares will be allocated to the underwriter “Alinma Investment” who will subscribe in it for the offer price.

The Company indicated that the rump offering period for the unsubscribed shares amounting to (281,277) shares will start at 10:00AM on Wednesday 29-11-2023, and continues until 5:00PM on Thursday 30-11-2023.