Zain KSA rights issue raises SR 2.55 bn so far

Saudi Fransi Capital, the lead manager of the ongoing rights issue transaction being undertaken by Mobile Telecommunications Company Saudi Arabia (Zain KSA), confirmed that as of 2 p.m. yesterday, total subscriptions including debt conversion of SR 2,546 million stood at approximately 325 million shares or 54 percent of the rights issue. The last day for the rights issue is today (Tuesday). Receiving banks will continue to accept subscription forms until 5 p.m. while electronic applications will continue to be accepted until 11.59 p.m.
The transaction is fully underwritten by a syndicate of underwriting banks led by Saudi Fransi Capital and Al-Rajhi Capital. The syndicate of receiving banks includes Banque Saudi Fransi, Al-Rajhi Bank, Alinma Bank, Bank Albilad, The National Commercial Bank, Samba Financial Group, Saudi Hollandi Bank, Arab National Bank, Bank AlJazira, Riyad Bank, SABB and the Saudi Investment Bank.
Shareholders eligible to participate in the rights issue are those registered as shareholders at close of market trading on July 4 prior to the extraordinary general assembly meeting held to approve the company's capital restructuring plans. Shareholders can obtain a subscription application form to apply for their eligible shares at any of the receiving banks, or online through the receiving banks' website.