Saudi Cable reveals results of rights issue

The total number of subscribed shares amounted to 14.44mln shares, out of a total number of the new offered shares of 25mln shares

  

Riyadh – Saudi Cable Company (SCC) announced the results of its right issue trading, new shares subscription, and the details of selling unsubscribed shares.

The total number of subscribed shares amounted to 14.44 million shares, out of a total number of the new offered shares of 25 million shares.

Value of the subscribed shares reached about SAR 144.4 million, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Monday.

Coverage of total new offered shares stood at 57.76%, the statement noted.

SCC revealed that the remaining 10.56 million shares will be offered to institutional investors, with the priority given to those offering the highest price, starting from 10:00 AM on Tuesday 21 January until 5:00 PM on Wednesday 21 January 2020.

Source: Mubasher

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