Raydan Food Company, Raydan, revealed the results of the remaining offering and the allocation of priority rights shares, and the coverage ratio at the end of the remaining offering period amounted to 1822.3%.
According to Arabiya Net, Raydan Company said in a statement on the Saudi Tadawul that the number of sold shares is 307.78 thousand shares, with a total amount of about 8.34 million riyals.
The company added that the average selling price of the sold shares was 27.09 riyals per share, and the net amount of compensation for the owners of priority rights and fractions of shares amounted to about 5.26 million riyals.
The date of deposit of the shares in the shareholders' accounts is September 2, 2021.
The company had announced the subscription of 10.94 million shares, of the new shares offered out of a total of about 11.25 million shares, at a value of 109.42 million riyals, with a coverage ratio of the total shares. The new offering is 97.26%.
Raydan Food Company announced, earlier, that its accumulated losses reached as on June 30, 2021, and according to the financial statements for the second quarter of 2021, at a rate of 36.08% at an amount of about 81.178 One million riyals, out of the company's capital of 225 million riyals.
