Allianz SF closes subscription to new shares today

The subscription to Allianz Saudi Fransi Cooperative Insurance Co.’s new shares closes today, Thursday, July 2.

The insurer started subscription to new shares and rights trading on June 22, to raise its capital from SAR 200 million to SAR 600 million.

Allianz SF offered 40 million rights shares, at SAR 10 each, totaling SAR 400 million.

Rights trading closed on June 29.

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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