Tihama pays SAR 39.9 mln compensation for unsubscribed rights issue shares

23/05/2023 Argaam

Tihama Advertising and Public Relations Co. announced, in a Tadawul filing, that a total of SAR 39.97 million was distributed, on May 22, 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.

 

Tihama offered 35 million shares, at SAR 10 each, to increase capital to SAR 400 million from SAR 50 million, Argaam earlier reported.

 

The rights offering was 83.98% covered. Investors subscribed to 29.39 million out of the 35 million shares on offer. The rump offering was 883.7% subscribed.

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