Edaa deposits Walaa subscribed securities for rights issue

01/12/2024 ِArgaam
Logo ofWalaa Cooperative Insurance Co.

Logo of Walaa Cooperative Insurance Co.

The Securities Depository Center Co. (Edaa) announced the deposit of Walaa Cooperative Insurance Co. subscribed securities for the rights issue into the accounts of eligible shareholders today, Dec. 1, according to a Tadawul statement.

 

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Walaa’s shareholders approved the board’s recommendation to increase capital by 49.97% via a rights issue, during the extraordinary general meeting (EGM) held on Nov. 26, as reported earlier by Argaam.

 

Trading on the rights issue and subscription to new shares will begin on Dec. 2, and the period for trading rights issue will end on Dec. 9. The subscription phase for new shares will continue until Dec. 12.

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