Tuesday, 29 November 2022

Enaya announces 61.66% coverage of priority rights subscription; remaining offering period begins on Sunday

Saudi Enaya Insurance Company announced on Thursday the results of the right issues trading and new shares subscription and the details of selling unsubscribed shares. Several 8,015,499 shares were subscribed from the newly offered shares out of a total number of 13,000,000 new shares. The coverage percentage out of the total newly offered shares (%) is 61.66 %.
Rump Shares will be offered at a minimum of the offering price to several institutional investors, who 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. the shares will be allocated proportionately to the institutional investors submitting the same offer. if institutional investors have not subscribed in all the rump shares, the remaining will be allocated to the underwriter, who will buy them at the offering price.
The rump offering period for the unsubscribed shares, amounting to 4,984,501 shares, shall start on Sunday, 27/11/2022, and continue until on Monday, 28/11/2022.

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