MEPCO: 19.9 mln new shares subscribed

Middle East Paper Co. announced on Thursday the results of the subscription to the new shares by capital increase with suspension of Rights Issue Shares.

The company explained on Tadawul that the number of shares subscribed for was 19.9 million shares, with a value of about SAR 630 million, and the coverage percentage of the total new shares offered was 100%.

The Company indicated that the value of the offering is 31.5%, and the date of depositing the new shares in the subscribers’ accounts will be today, Thursday.

The investor who owned capital increase shares with suspension of Rights Issue Shares, shall not dispose of these shares during the two years following the date of its listing, as per the waiver issued by the Capital Market Authority.

The deposit of the new shares into the targeted investor’s account will be announced through the Securities Depository Center Company (“Edaa”).