Maadaniyah: Coverage Percentage of Total New Offered Shares Reached 86.7%

National Metal Manufacturing and Casting Company announced the results of right issues trading and new shares subscription, as well as the details of the unsubscribed shares sale. A number of 10,407,892 shares were subscribed from the new offered shares out of total number of 12,000,000 new shares. The coverage percentage out of total new offered shares (%) is 86.73 %.

The Company indicated on Sunday on Tadawul that the 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. The 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. As for fractional shares (if any), they will be added to the rump shares and treated similarly.

The remaining offering start date is 14.12.2021 while remaining offering end date is 15.12.2021.

The Rump offering period for the unsubscribed shares amounting to (1,592,108) shares, shall start at 10:00 am on Tuesday 14.12.2021 and continue until 5:00 pm on Wednesday 15.12.2021.