SIECO to pay SAR 76.54 mln compensation for unsubscribed rights issue shares

22/06/2022 Argaam

Saudi Industrial Export Co. (SIECO) announced, in a bourse filing, that a total of SAR 76.54 million will be distributed tomorrow, June 23, as compensation to rights issue owners who did not exercise their rights to subscribe to the new shares.

 

The amount will be deposited in the bank accounts of eligible investors.

 

In May, SIECO shareholders approved increasing capital from SAR 21.6 million to SAR 194.4 million through a SAR 172.8 million rights issue, during an extraordinary general meeting (EGM) held on May 11, Argaam reported.

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