MedGulf’s rights issue to kick off tomorrow

16/09/2018 Argaam

The Mediterranean and Gulf Insurance and Reinsurance Co. will begin its SAR 400 million rights issue on September 17, 2018, the Saudi Stock Exchange (Tadawul) said in a statement on Sunday.

 

The rights will be tradable until Sept. 24, and subscription period will run until Sept. 27.

 

On Sept. 10, the company’s general assembly approved a 100 percent capital hike to SAR 800 million from SAR 400 million through a rights issue, Argaam reported earlier.

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