SPM announces 381.48% coverage ratio of remaining offering, allotment of rights shares

Saudi Paper Manufacturing Company (SPM) announced on Sunday the results of the rump offering and the final allocation of the rights issue shares. By the end of the rump offering period, the shares bid amounted to 381.48%.
The company said in a statement on Sunday on Tadawul that the number of shares sold was 1,079,032 shares, and the total amount of return from the sale of unsubscribed shares amounted to SR25,538,236.72, while the fractional shares amounted to 15,641 shares, with an average selling price of 23.67 riyals sold, and the net amount of Compensation attributable to owners of priority rights and fractional shares of SR14,747,916.72.
It was decided that the date of depositing the shares in the shareholders’ accounts will be 11-16-2022.
The Company will receive the aggregate offer price collected from the rump offering. The proceeds exceeding the offer price, if any, will be distributed to those entitled to it at latest on Tuesday (29/11/2022).