Subscription period for Salama’s rights shares ends today

Capital Increase Details

Current capital

SAR 200 mln

Current number of shares

20 mln

Capital increase (%)

50%

Capital after increase

SAR 300 mln

Number of shares after increase

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