Alahlia For Cooperative Insurance Company (Alahlia) published the prospectus of its planned rights issue aimed at increasing the company’s capital by SAR 220 million.

 

The listed firm will announce the pricing and volume of shares and subscription dates following its extraordinary general assembly meeting on April 23, 2014.

 

The Saudi Capital Market Authority approved in February the company’s rights offering request.

 

Key information of the capital increase

Current Capital

SAR 100 million

Listed Shares

10 million shares

Increase ratio

N/A

Listed Shares after the increase

N/A

Key information of the rights issue

Number of Shares

N/A

Issue price

N/A

IPO size

SAR 220 million

Record date

April 23, 2014

Opening date

N/A

Closing date

N/A

Price of extra shares

N/A

Allocation date

N/A

More Information

 

Financial Advisor, arranger & underwriter

Saudi Hollandi Capital Co.

Receiving Banks

Saudi Fransi, Saudi Hollandi, NCB, Riyad Bank, Al-Jazira Bank, the Arab Bank & Samba

Use of proceeds
  1. Issue expenses: SAR 10 million
  2. Financing the company’s future expansions, while preserving liquidity levels and minimum capital requirement.

 

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