Subscription period for Salama’s rights shares ends today

Logo of Salama Cooperative Insurance Co.

Salama Cooperative Insurance Co.’s rights subscription period ends today, Dec. 29.

The subscription period started on Dec. 17 to increase the company’s capital by 50% from SAR 200 million to SAR 300 million.

Salama offered 10 million ordinary shares at SAR 10 apiece, through a right issue worth SAR 100 million.

For More IPOs

The rights trading period ended on Dec. 24.

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

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