Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) announced the enhanced framework for trading and subscribing to rights of listed companies.
The enhanced framework shall be applied in the next batch of offerings to increase capital through rights issue, according to a bourse filing on Thursday.
Tadawul decided that the subscription to be in one period instead of two separated periods for the registered and new investors
Moreover, all investors are allowed to immediately subscribe after settlement of bought rights without waiting for a new subscription period, the statement said.
The market also shortened the period for rights to a maximum of 28 instead of 34 days.
Subscription requests will be only through trading platforms by which sell and buy orders are entered, adding to any other channel provided by the broker.
Tadawul stated that it aims to safeguard the interest of retail investors by facilitating the process of subscription to rights and ensuring that ample time is given to all investors to trade and subscribe in rights.
