Wafa Insurance to complete first stage of rights issue

23/04/2015 Argaam
Saudi Indian Company for Cooperative Insurance (Wafa) will wrap up the first stage of its rights issue on Thursday, which started on April 14.
 
Rights issues are now held over two stages, according to regulations adopted by the Capital Market Authority, Saudi’s market regulator. 
 
During the first stage, shareholders and investors are able to trade their rights.
 
Wafa’s second stage begins on Sunday, and will continue to Tuesday, April, 28.
 
Registered shareholders and investors who bought rights during the first stage are allowed to subscribe to shares in the second stage. Rights, however, are not allowed to be traded after the first stage.

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