‎Wafrah to launch rights trading, recent shares subscription on June 20

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Stamp of Wafrah for Alternate and Constructing Co. 


Wafrah for Alternate and Constructing Co. acknowledged the trading period for the rights self-discipline and subscription for stamp recent shares will launch on June 20.

In an announcement to Tadawul, Wafrah acknowledged the rights trading will shut on June 27, whereas the subscription to the recent shares will quit on June 30.

Rights holders are allowed to dispute their accurate to subscribe to recent shares, in tubby or in segment, up to the series of accurate complications accessible in their portfolios. Shopping and selling in rights and subscription to recent shares for registered shareholders and recent merchants will likely be in accordance to the prospectus.

The leisure and fractional shares, if any, will likely be equipped to institutional merchants, per the prospectus. AlJazira Capital will underwrite the rights self-discipline if the full subscription is no longer fully lined.

Merchants no longer willing to subscribe must sell their rights at some stage in the desired trading period to lead clear of the decline in the associated fee of their investment portfolios attributable to no longer taking good thing about their rights, whether or no longer by map of sale or subscription, the company acknowledged.

On June 14, Wafrah shareholders authorized a capital magnify by map of SAR 154.3 million rights self-discipline, Argaam reported.

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