Under this rights issue
, shareholders of the company have the preferential right to subscribe for units.
The rights issue
will be solely tradable during the above-mentioned timeframe with a distinct trading symbol (ALRAMZ-RI), not the symbol of the main stock of the respective company.
In its BSE statement, SBT has revealed that eligible equity shareholders holding less than 5 equity shares of the bank or not in the multiple of 5 will be deprived of fractional allocation under this rights issue
The funds raised from the Rights Issue
will be used to:
2 million rights issue
as well as a 20 percent stake sale to Qatar Holding, a unit of sovereign wealth fund Qatar Investment Authority.
RBS reportedly put forward a timeline as part of a 172-page defence lodges at the High Court on Friday night which said that RBS began talking about a rights issue
three weeks prior to when its former chief executive, Fred Goodwin, discussed it with then chief executive of the FSA, Hector Sants.
Former chief executive Bob Diamond, who was forced out of the banK in the waKe of its Libor scandal in 2012, was among those to buy shares in the rights issue
China Merchants Bank plans to raise RMB35bn from a rights issue
of its A-shares and H-shares.
The rights issue
, announced last week and started yesterday, aims to increase the group's capital by 74 per cent to KD42 million by issuing of 178 million shares at a nominal value of 100 fils per share.
This close of the rights issue
marks the completion of Zain KSA's capital restructuring , a process intended to strengthen the company's financial and commercial position.
Waaler declined to be more specific on the reason for shareholders' resistance towards the private placement, saying only that it was based on the principal difference between a private placement and a rights issue
The company stated that the rights issue
will be for present units of the energy exploration partnership.