Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) launched its rights issue on Tuesday and will continue to March 26.
The insurer is offering 20 million shares at SAR 10 per share to raise its capital from SAR 200 million to SAR 400 million.
During this stage, registered shareholders can subscribe to new shares.
The company said it will dedicate SAR 5 million for fees, while remaining proceeds will be used to boost its solvency margin and finance expansions.
Rights could also be traded by shareholders or investors during this stage.
|
Price Limits |
|
|
SAR 29.07 |
Closing price per share |
|
± 10% |
Share’s price deviation percentage |
|
± SAR 1.60 (30.50-28.90) |
Daily price limit per share |
|
SAR 10 |
Offering price |
|
SAR 19.07 |
Indicated value at closing |
|
Capital Increase Details |
|
|
SAR 200 mln |
Current capital |
|
20 mln |
Current shares |
|
100% |
Percentage of increase |
|
SAR 400 mln |
Resulting capital |
|
40 mln |
New number of shares |
|
The Rights Issue |
|
|
20 mln |
Number of new shares |
|
SAR 10 |
Price per share (new) |
|
SAR 200 mln |
Size of issue |
|
March 10, 2015 |
Record date |
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Other Details |
|
|
Al Dakheel Group |
Financial advisor |
|
Saudi Hollandi Capital |
Lead manager |
|
Al-Rajhi Capital |
Lead underwriter |
|
Al Rajhi, Saudi Fransi, RIBL |
Receiving banks |
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