Al Alamiya for Cooperative insurance Company announced the prospectus of its SAR 200m capital raise through a rights issue at SAR 10 per share.
 

The rights will be issued to registered shareholders at the extraordinary general assembly’s day; the company indicated in the prospectus.


It added that the rights will be deposited into investors’ portfolios within two days from the record date.


According to data compiled by Argaam; Al Alamiya insurance announced in November receiving the CMA’s approval for a capital raise of SAR 200m through a rights issue.
 

Capital raise details

SAR 200 mn

Current capital

20 mn shares

Number of shares

100%

Capital raise (%)

SAR 400 mn

New capital

Rights issue details

20 mn shares

Number of IPO shares

SAR 10/ share

IPO price per share

SAR 200 mn

IPO value

Not determined

Record date

-SAR 10 mn issuance fees.

-Maintain the minimum required solvency margin.

IPO proceeds use

Additional Information

GIB Capital

Financial advisor, lead manager and lead underwriter

NCB, SABB, SAMBA

Receiving Banks
     
 

 

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