“Zain Saudi Arabia”: Covering the Rights Issue of 86%

The Saudi Mobile Telecommunications Company, “Zain Saudi”, announced the results of trading of priority rights, the subscription of new shares, and the details of the sale of shares that were not subscribed.

The total number of shares subscribed from the total number of new offered shares reached more than 390 million shares, valued at 3.904 billion riyals, with a coverage of 86%.

The company clarified that the remaining shares will be offered to a number of institutional investors, provided that these institutions submit purchase offers for the remaining shares, and the remaining shares will be allocated to investment institutions by giving priority to the offer that is higher in price, then the lowest and the lowest (provided that it is not less than the offering price). That shares be allocated proportionately to the investment institutions that make the same offer. In the event that there are shares not purchased by the investment institutions, these shares will be allocated to the underwriter who will purchase them at the offering price.

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