Salama’s rights trading ends today

Logo of Salama Cooperative Insurance Co.

Salama Cooperative Insurance Co.’s rights trading and subscription period ends today, Dec. 24. The rights issue sought to increase the company’s capital from SAR 200 million to SAR 300 million.

Subscription and rights trading started on Dec. 17. Subscription to new shares will close on Dec. 29.

For More IPOs

Right holders may subscribe, in whole or in part, to the new shares in proportion to the rights existing in their portfolios.

Capital Increase Details
Current Capital	SAR 200 mln
Current Number of Shares	20 mln
Capital Increase (%)	50%
Post-Capital Increase	SAR 300 mln
New Number of Shares	30 mln

Rights Issue Details
Offered Shares	10 mln
Offer Price	SAR 10
Issue Size	SAR 100 mln
Eligibility Ratio	Each shareholder will be granted one right for every two shares held
Record Date	Dec. 11, 2024 (Shareholders registered with Edaa by the close of trading on the second day following the general meeting date)
Trading Period	Dec. 17-24
Subscription Period	Dec. 17-29
Reason	Support the insurer’s future plans, enhance financial solvency margin, boost statutory reserve, and fulfill the requirements of capital
Rights Issue Proceeds	Banks Deposits	SAR 87.5 mln
	Deposit Increase	SAR 7.5 mln
	Offering Fees	SAR 5 mln

Additional Information
Financial Advisor, Lead Manager & Underwriter	Alawwal Capital
Co-Underwriter	Al-Nefaie Investment

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