Alinma Tokio Marine launches SAR 250 mln rights issue

Alinma Tokio Marine Company (ATMC) launched the first round of its SAR 250 million rights issue on Tuesday, which is set to run until August 20.

The insurer is aiming to raise its capital from SAR 200 million to SAR 450 million.

A total of 25 million shares will be offered at SAR 10 per share to shareholders who were During the initial subscription stage, only registered shareholders will be allowed to subscribe based on the number of rights deposited in their portfolios.

The second round will be held August 23-August 25. Rights are not tradable during this On August 5, the company said it would allocate SAR 4 million to cover costs associated with the offering and use the remaining proceeds to boost its solvency margin and finance future expansions, according to a report published by Argaam.

Capital Raise Details
SAR 200 mln	Current capital
20 mln shares	Number of shares
125%	Capital raise (%)
SAR 450 mln	New capital
Rights Issue Details
25 mln shares	Number of right shares
SAR 10 per share	IPO price per share
SAR 250 mln	Size of issue
August 4, 2015	Record date
Additional Information
Saudi Kuwait Finance House		Financial advisor
Alinma Investment		Lead manager
Saudi Kuwait Finance House, Alinma Investment		Lead Underwriter
Alinma, RIBL, Samba		Receiving Banks

" AlinmaaTokio's IPO "

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