Just under 17m of the 20m shares offered were subscribed by shareholders and the remaining shares were offered in a rump on Monday and Tuesday.

The result of the rump was confirmed on Sunday with demand for 6.5 times the offered shares.

The rights issue comprised 20m shares on a 0.248-for-1 basis at SR10 each.

The company, which operates across medical, industrial and real estate, will use proceeds to support its Al-Salam Medical Services subsidiary, including covering cost of equipment, payments to suppliers and obligations to financial entities.

Shares closed down 10% at SR14.22 on Monday.

Alinma Investment ran the offer.

Source: IFR