Logo of Wataniya Insurance Co.

Wataniya Insurance Co. announced today, March 10, the issuance of prospectus for its capital increase through SAR 200 million rights issue.

 

The capital will increase to SAR 400 million by offering of 20 million shares at a nominal value of SAR 10 each.

 

The capital hike is aimed to support the company's future plans and solvency margin.

 

The Capital Market Authority (CMA) approved the request received from Wataniya on March 8 to increase capital through SAR 200 million rights issue, Argaam reported.

 

Capital Hike Details

Current Capital

SAR 200 mln

Number of Shares

20 mln

Capital Hike%

100%

Capital after Increase

SAR 400 mln

Number of Shares after Increase

40 mln
 

Rights Issue Details

Number of Shares Offered

20 mln shares

Offering Price Per Share

SAR 10

Size of Issue

SAR 200 mln

Eligibility Ratio

Each listed shareholder will have the right to one share per each owned share.

Record Date

Shareholders of record by the close of trading on the second day following the EGM date

Rights Issue Proceeds

Financial investments

SAR 150 mln

General works

SAR 24 mln

Increasing statutory deposit

SAR 20 mln

Estimated offering costs

SAR 6 mln

 

For More IPOs

Issue Prospectus

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