Arabia Insurance uses rights issue proceeds to boost solvency margin

30/07/2015 Argaam

Arabia Insurance has used SAR 172 million of the SAR 200 million in total proceeds generated from a recent rights issue to improve its solvency margin, the company said in a statement to Tadawul.

 

Over SAR 107 million was said to have been invested in bank deposits and funds, while SAR 50 million went towards bonds and long-term investments. The company also used SAR 15 million to purchase shares in listed firms and other investments.

 

Total direct and in-direct expenses reached SAR 7.9 million.

 

A total of SAR 20 million was used as a recurring deposit, in line with the capital hike.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.