Saudi Arabia’s Ayyan Investment Company is running a rump placing after receiving take-up of 84.8% in its SR200m (US$53.3m) rights issue.

The rights issue saw just under 17m shares subscribed from a total 20m with the remainder offered to the market from 10am local time on Monday to 5pm on Tuesday.

Shares had been offered on a 0.248-for-1 basis at SR10 each from July 14–24.

The company, which operates across medical, industrial and real estate, will use proceeds to support its Al-Salam Medical Services subsidiary, including covering costs of equipment, payments to suppliers and obligations to financial entities.

Shares closed down 0.5% at SR17.80 on Monday.

Alinma Investment is running the offer and will underwrite any unsubscribed shares following the rump placing.