Country raises 419.6 million riyals from rights issue
Al Budlan Company announced the end of the subscription period for the rights issue shares, totaling approximately 536 million shares at a price of 1.01 Riyals per share. Around 415.5 million shares were subscribed for, representing 77.5% of the offered shares, with a value of nearly 419.6 million Riyals. Meanwhile, 120.5 million shares, or 22.5%, were not subscribed. These shares will be deposited into the investors' accounts, and trading will commence later, following approval from the Qatar Financial Markets Authority.
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