Gulf Union Alahlia closes subscription to new shares today

19/05/2022 Argaam Special
Logo ofGulf Union Alahlia Cooperative Insurance Co.

Logo of Gulf Union Alahlia Cooperative Insurance Co.

Gulf Union Alahlia Cooperative Insurance Co. will close today, May 19, the subscription process to its new shares.

 

The subscription process began on May 9. The company offered 22.95 million rights shares at SAR 10 each, to increase capital from SAR 229.5 million to SAR 458.95 million.

 

The rights trading period ended on May 16.  

 

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
 

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

Record date

April 20, 2022

Capital increase drivers 

To support the company’s plans, and strengthen its financial solvency and investment income

Capital increase method

Via rights offer of 22.95 mln shares at a total value of SAR 229.5 million
 

For more IPOs

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