L'azurde says rights issue attracts $34mln in subscribed shares

The remaining shares of 1.72mln will be offered for subscription on June 22-23

  
Investors monitor a screen displaying stock information on the L'azurde Company for Jewellery, after it was listed at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia June 29, 2016.

Investors monitor a screen displaying stock information on the L'azurde Company for Jewellery, after it was listed at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia June 29, 2016.

REUTERS/Faisal Al Nasser
Riyadh – Mubasher: L'azurde Company for Jewelry said the rights issue to raise its capital resulted in 12.77 million subscribed shares at a value of SAR 127.77 million.

This volume represented 88.12% of the total 14.5 million shares L'azurde has offered for subscription during the period of 7-17 June, according to a bourse filing on Sunday.

The remaining shares of 1.72 million will be offered for subscription on 22-23 June.

Earlier this month, the shareholders of the company approved to raise the capital by 33.72% or SAR 145 million through a rights issue, after L'azurde had obtained the Saudi Capital Market Authority’s (CMA) nod for the increase last April.

Source: Mubasher

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