The National Metal Manufacturing and Casting Company “Madania” announced the results of the remaining offering and the allotment of rights issues, with a coverage ratio at the end of the remaining offering period of 729.8%.
“Madania” said in a statement on “Saudi Tadawul”, today, Monday, that the number of shares sold amounted to about 1.59 million shares, and the total amount of return from the sale of unsubscribed shares amounted to about 42.22 million riyals.
It added that the average selling price of the shares sold amounted to 26.5 riyals per share.
The net compensation amount attributable to the owners of priority rights and fractions of shares amounted to 26.3 million riyals.
The shares will be deposited into the shareholders’ accounts on December 23, 2021.
Maadeniya had announced the results of trading priority rights and subscribing to new shares by subscribing to about 10.41 million new shares offered out of a total of about 12 million shares. About 86.73%.
About 1.59 million shares remain unsubscribed, and they began to be offered again in the period from 14 to 15 December 2021.
It is noteworthy that the Saudi Capital Market Authority approved the request of the National Metal Manufacturing and Casting Company “Madeniya” to reduce the company’s capital from 281.12 million riyals to 234 million riyals, thus reducing the number of the company’s shares from 28.11 million shares to 23.4 million shares.
The authority also approved the approval of “Madaniya”‘s request to increase its capital by offering rights shares at a value of 120 million riyals.