The Saudi Paper Manufacturing Company has announced a 94% rights issue coverage.
According to Arabianet, the company stated in a statement that it will offer the remaining shares to a number of institutional investors.
and these institutions will submit offers to buy the remaining shares, and the remaining shares will be allocated to the investment institutions, giving priority to the highest bid, then the lowest and the lowest (provided that it is not less than the offering price), Provided that the shares are allocated proportionately to the investment institutions that make the same offer.
In the event that there are shares not purchased by institutional investors, these shares will be allocated to the underwriter who will purchase them at the offering price.
and indicated that the remaining offer period for shares that have not yet been subscribed, amounting to 596.41 thousand shares, will start from ten in the morning on Tuesday, December 29, 2020, and continue until Five o'clock in the evening on Wednesday 30 December 2020
