Naseej International rights issue 81.85% subscribed; balance to institutional investors

Logo of Naseej International Trading Co.

In a statement to Tadawul today, the company said the remaining shares will be offered to several institutional investors, which will submit bids to purchase the remaining shares.

The rump shares will be allocated to the institutional investors in descending order based on their bids, provided that the bids are not below the offer price. Shares will be allocated pro-rata among Investment Institutions submitting the same bid.

If the institutional investors do not subscribe to all the remaining shares, the underwriter, Wasatah Capital, will subscribe to the remaining offer shares at the offer price.

According to data compiled by Argaam, the rights trading period for Naseej began on Sept. 1, 2026, and ended on Sept. 8, 2026.

The company offered 16.35 million shares at SAR 10 per share through a SAR 163.46 million rights issue to increase its capital from SAR 108.97 million to SAR 272.43 million.

The capital increase is aimed at settling financial obligations and supporting the company’s future growth strategy. Naseej plans to use the offering proceeds primarily to repay and settle bank loans, in addition to investing in the real estate sector, paying suppliers and accrued expenses, and developing its workers’ accommodation building.