Savola rump offering 814.2% covered

Logo of Savola Group 

Savola Group announced today, Sept. 18, that its rights issue rump offering was 814.2% covered, as follows:

 

Offering Details

Number of Shares Sold

35.10 mln

Total Rump Offering Proceeds

SAR 943.45 mln

Coverage Ratio (%)

814.2%

Average Price/Share Sold

SAR 26.88

Net Compensation for Holders of Rights & Fractional Shares

SAR 592.43 mln

Date of Depositing Shares into Shareholders Accounts

Sept. 26, 2024
 

Subscription to the rights issue ended on Sept. 10, according to Argaam's data.

 

For More IPOs

 

During the subscription period, which began on Aug. 29, the company offered 600 million shares at SAR 10 each, totaling SAR 6 billion, to increase capital by 112.36% from SAR 5.34 billion to SAR 11.34 billion.

 

The subscription coverage reached 94.2% of the total offered shares, with 564.90 million out of 600 million new shares subscribed at a value of SAR 5.6 billion.

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