Logo of Allied Cooperative Insurance Group

Allied Cooperative Insurance Group’s (ACIG) rights subscription period ends today, Jan. 13.

 

Subscription period started on Jan. 3 to increase the company’s capital from SAR 141 million to SAR 291 million, through a rights issue of 15 million shares at SAR 10 per share.

 

Rights trading period, which also started on Jan. 3, ended on Jan. 10.

 

Capital Increase Details

Current capital

SAR 141 mln

Number of shares

14.1 mln

Capital increase %

106%

Capital after increase

SAR 291 mln

Number of shares after increase

29.1 mln
 

Rights Issue Highlights

Number of offered shares 

15 mln

Offering price per share

SAR 10

Issuance size

SAR 150 mln

Record date

Dec. 29, 2021 (Shareholders of record at Edaa by the close of trading on the second trading day following the extraordinary general meeting (EGM) date) 

Rights coefficient

1.06 rights for each share held

Rights subscription period

Jan. 3-13

Use of rights issue proceeds

Financial investments

SAR 124.5 mln

Statutory deposit

SAR 22.5 mln

Issue costs

SAR 3 mln

 

 

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