Allianz Saudi Fransi rights trading period ends today

Allianz Saudi Fransi rights trading period ends today, June 29, 2020.

Rights trading started on June 22, to increase the company’s capital from SAR 200 million to SAR 600 million, through a rights issue of 40 million shares at SAR 10 per share.

Rights issue subscription period, which also started on June 22, will end on July 2, 2020.

Rights holders are entitled to subscribe to the new shares partially or fully pro rata.

Key Figures of the Capital Hike
Current capital	SAR 200 mln
Number of shares	20 mln shares
Hike (%)	200%
New capital	SAR 600 mln
New shares	60 mln shares
Rights Issue Details
Number of rights issue shares	40.0 mln shares
Issue price	SAR 10/share
Issue size	SAR 400 mln
Record date	(June 16, shareholders of record on June 18)
Rights coefficient	Each shareholder is entitled to 2 rights for every share held
Start of right issue trading and subscription period	June 22
End of rights issue trading	June 29
End of trading new shares subscription period	July 2
Use of Proceeds	To support business expansions, while maintaining the solvency margin required by SAMA. Proceeds will also go towards financing the increase in the statutory deposit required by SAMA.
Additional Information
Financial advisor, Lead manager and Underwriter	ANB Invest

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