AXA Insurance rights issue 30.8% subscribed by sixth day

23/02/2015 Argaam

 

AXA Cooperative Insurance Company’s rights issue was 30.8 percent subscribed by the end of its sixth day, according to Saudi Fransi Capital, the financial advisor and lead manager of the offering.

 

The first stage of the rights issue, open to registered shareholders, started Tuesday and will continue to Feb. 26.

 

The insurance company is offering 25 million shares at SAR 10 per share to raise its capital from SAR 200 million to SAR 450 million, according to data available by Argaam.

 

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