Logo of Wataniya Insurance Co.

Wataniya Insurance Co.’s rump offering was 398.9% oversubscribed, according to a bourse filing.

 

Offering Details

Number of Shares Sold

3.35 mln 

Total Proceeds from Selling Rump Shares

SAR 53.34 mln

Coverage Ratio (%)

398.9%

Average Selling Price per Share

SAR 15.9

Net Compensation for Holders of Rights & Fractional Shares 

SAR 15.9 mln

Date of Depositing Shares in Shareholders Accounts

May 26, 2022
 

The subscription process to the company's rights shares ended on May 12, according to Argaam's data.

 

The subscription period started on April 25, to increase the company’s capital from SAR 200 million to SAR 400 million, through a rights issue of 20 million shares at SAR 10 each.

 

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