Logo of Salama Cooperative Insurance Co.
Salama Cooperative Insurance Co. announced today, Nov. 30, that the rump offering of its rights issue was 934.34% covered, as illustrated in the table below:
|
Subscription Details |
|
|
Number of shares sold |
891,100 |
|
Total rump offering proceeds |
SAR16.47 mln |
|
Coverage ratio |
934.34% |
|
Average price/share sold |
SAR18.48 per share |
|
Net compensation for rights issue and fractional shareholders |
SAR7.56 mln |
|
Deposit date |
Dec. 4, 2023 |
Salama’s subscription to rights shares ended on Nov. 21, Argaam earlier reported.
Rights trading period ran from Nov. 9-16, to increase the company’s capital from SAR 100 million to SAR 200 million through offering 10 million shares at SAR 10 each.
The rights issue was 91.09% covered, whereas 9.11 million shares out of the total 10 million new offered shares were subscribed, at a value of SAR 91.09 million.
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