Logo of Amana Cooperative Insurance Co.
Amana Cooperative Insurance Co. announced the prospectus for its capital increase through offering rights issue shares worth SAR 300 million.
The capital will be increased to SAR 430 million through offering 10 million rights issue shares at a nominal value of SAR 10 apiece.
The capital hike is aimed at supporting future plans and boosting solvency margin.
The Capital Market Authority (CMA) approved, on May 23, Amana’s application to increase capital through a rights issue, as per Argaam data.
|
Capital Hike Details |
|
|
Current capital |
SAR 130 mln |
|
Number of shares |
13 mln shares |
|
Capital hike% |
231% |
|
Capital after increase |
SAR 430 mln |
|
Number of shares after increase |
43 mln shares |
|
Rights Issue Details |
||
|
Number of shares offered |
30 mln shares |
|
|
Offer price |
SAR 10 |
|
|
Size of issue |
SAR 300 mln |
|
|
Eligibility coefficient |
Nearly 2.3 right for every share held |
|
|
Record date |
Shareholders registered with the Securities Depository Center (Edaa) by the close of trading on the second trading day after the EGM date. |
|
|
Rights issue proceeds |
Investment |
SAR 249.2 mln |
|
Increasing statutory deposit |
SAR 45.0 mln |
|
|
Offering fees |
SAR 5.8 mln |
|
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}