Saudi Al Sorayai shares oversubscribed by 858%

A total of 1.93mln shares were sold with a total value of $7.62mln

  
A Saudi trader monitors stocks at the Saudi stock market in Riyadh, Saudi Arabia, January 8, 2020.

A Saudi trader monitors stocks at the Saudi stock market in Riyadh, Saudi Arabia, January 8, 2020.

REUTERS/Ahmed Yosri

Riyadh –  The remaining shares of Al Sorayai Trading and Industrial Group’s rights issue were 858.1% oversubscribed.

A total of 1.93 million shares were sold with a total value of SAR 28.6 million, at an average selling price of SAR 14.79 per share, according to the company’s statement to the Saudi Stock Exchange (Tadawul).

The rights issue originally registered an 82.83% coverage, with a value of SAR 93.31 million.

Source: Mubasher

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