The subscription period and trading of priority rights for Saudi Mobile Telecommunications Company Zain Saudi Arabia begins today, Monday, to increase its capital by offering priority rights.
Earlier, Zain Saudi Arabia announced the date for the trading of priority rights and the new shares subscription, to increase its capital through a rights issue.
The company clarified that the rights issue trading period will end on October 26, and that the subscription period for new shares will continue until October 29, 2020.
and indicated that holders of pre-emptive rights will be allowed to exercise their right to subscribe (in whole or in part) to the new shares within the limits of the number of priority rights in their portfolios.
She pointed out that in the event that shares remain unsubscribed, those remaining shares and fractional shares (if any) will be offered to investors of an institutional nature as mentioned in the prospectus Version.
and indicated that the financial advisors, the IPO and underwriters for the IPO will cover the rights of Saudi Fransi Capital, Arab National Investment Company, Al Rajhi Capital, Al Jazira Capital, Alinma Investment Company and Riyad Capital Priority in case the entire subscription is not covered.
The extraordinary general assembly of shareholders of Zain Saudi Arabia, which held its meeting on October 14, 2020, approved the capital increase by 100.3%, from 4.487 billion riyals to 8.987 billion riyals.
