Shams pays SAR 5.022 mln compensation for unsubscribed rights issue shares

16/01/2023 Argaam

Tourism Enterprise Co. (Shams) announced, in a bourse filing, that a total of SAR 5.022 million was distributed today, Jan. 16, as compensation to rights issue owners who did not exercise their rights to subscribe to the new shares.
 

The amount was deposited in the bank accounts of eligible investors.
 

According to data compiled by Argaam, the subscription period for Shams’ rights issue ended on Dec. 12.
 

Subscription to new shares and rights trading ran from Nov. 27 to Dec. 12.
 

The SAR 525.7 million rights issue included a total of 52.57 million shares, offered at SAR 10 each. This came to raise the company’s capital from SAR 52.57 million to SAR 578.24 million.

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