Allianz SF to refund SAR 11.78 mln to rights holders

Allianz Saudi Fransi Cooperative Insurance Co. (Allianz SF) will pay SAR 11.78 million worth of refunds to the rights holders who didn't subscribe to the new shares, on July 19, according to a bourse filing.

According to data compiled by Argaam, the subscription to Allianz SF’s new shares closed on July 2, and the rights issue was 93.76% subscribed, as subscribers injected SAR 375.04 million in 37.5 million shares.

The remaining rights issue shares were 539% oversubscribed, which was offered to institutional investors from July7-8, 2020.