Metal .. The start of the subscription phase and the trading period for priority rights tomorrow

Saudi Arabia Tadawul announced the start date of the underwriting phase and the negotiation period for the priority rights of the National Metal Manufacturing and Casting Company “Madania”, starting tomorrow, Monday 29 November 2021.

And Tadawul stated in a statement today, Sunday, that the trading period for priority rights ends Monday 6 December 2021, while the subscription phase continues until Thursday 9 December.

Tadawul said: “The range of variation allowed for right trading prices differs from the rate of fluctuation that share prices are subject to.”

In a separate statement, the Securities Depository Center Company (Edaa) reported that it added the National Metal Manufacturing and Casting Company’s commercial priority rights to the center’s accounts for eligible shareholders.

The Saudi Capital Market Authority had 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 shares in the company 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 shares in rights worth 120 million riyals.

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