RIYADH: Developmental Opportunities Trading Co. sold its 21percent shares in Theeb Rent a Car Co. to institutional investors, Al-Arabiya reported on Tuesday.
EFG Hermes and Saudi Fransi Capital, in their capacity as bookrunners and brokers, executed the sale for the trading company.
According to a joint press statement, the total number of offered and sold shares reached 9,030,000.
The shares were offered to a group of institutional investors, and they were implemented through 19 negotiated deals at a price of SR53 per share, so that the value of the deal amounted to SR478.6 million ($127.57 million).