Logo of Gulf Union Alahlia Cooperative Insurance Co.
Gulf Union Alahlia Cooperative Insurance Co. will close today, May 16 its rights trading period to increase its capital from SAR 229.5 million to SAR 458.95 million.
The subscription to new shares began on May 9 and will continue through May 19.
Rights holders are entitled to subscribe to the new shares partially or fully pro rata.
|
Capital Increase Highlights |
|
|
Current capital |
SAR 229.50 mln |
|
Number of shares |
22.95 mln |
|
Capital increase (%) |
100% |
|
Capital after increase |
SAR 458.95 mln |
|
Number of shares after increase |
45.90 mln |
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Rights Issue Highlights |
|
|
Number of offered shares |
22.95 mln |
|
Offer price per share |
SAR 10 |
|
Size of issue |
SAR 229.5 mln |
|
Eligibility coefficient |
One right for every share held |
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Record date |
April 20, 2022 |
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Capital increase drivers |
To support the company’s future plans, and strengthen its financial solvency and investment income |
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Capital increase method |
To offer rights 22.95 mln shares at a total value of SAR 229.5 million |
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