Gulf General rights subscription period ends today

Gulf General Cooperative Insurance Co.’s subscription period for new shares ends today, July 15.

Subscription to new shares began on July 5, to increase capital from SAR 200 million to SAR 500 million.

The company offered 30 million shares at SAR 10 per share, granting each registered shareholder at the record date nearly 1.5 rights for each share held.

The rights trading period ended on July 12.

Details of Capital Hike
Current Capital	SAR 200 mln
Number of Shares	20 mln
Capital Hike	150%
Capital After Increase	SAR 500 mln
Number of Shares After Increase	50 mln

Key Figures in Rights Issue
Number of Offered Shares	30 mln
Offering Price	SAR 10
Issue Size	SAR 300 mln
Rights trading period	From July 5 to July 12, 2021
Subscription period	From July 5 to July 15, 2021
Record Date	June 28, 2021 (Shareholders of record on the day of the EGM, during which the capital increase was discussed, along with those on record on the second trading day following the EGM)
Use of proceeds	Investments and financial deposits	SAR 262.5 mln
	Increasing the statutory deposit	SAR 30 mln
	Issue expenses	SAR 6 mln
	Upgrading the offices, headquarters and electronic systems	SAR 1.5 mln

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Gulf General rights trading, subscription period begins today

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