SPM announces start of trading period of priority rights and subscription to new shares

The Saudi Paper Manufacturing Company (SPM) announced on Wednesday determining of the period of rights issue trading and subscription in the new shares. The right Issues and new shares subscription period start date is 23/10/2022. The right issues trading period end date is 30/10/2022. The new shares subscription period end date is 2/11/2022.
The company said in a statement on Wednesday on Tadawul that the right holders may exercise their subscription right, in whole or in part, to the new shares in proportion to the rights existing in their portfolios. For registered shareholders and new investors, trading of the rights and subscription to the new shares shall be pursuant to the details set forth in the prospectus.
It should there be unsubscribed shares after the end of the subscription period, the said shares and fractional shares (if any) will be offered to institutional investors in accordance with the details set forth in the prospectus. The underwriter “Alinma investment” will underwrite the new shares which remain unsubscribed after the rump offering.
Investors who do not wish to subscribe should note the importance of selling their rights during the specified trading period; so as not to be exposed to a loss in the value of their investment portfolios as a result of not benefiting from their rights by sale or subscription.