Allianz Saudi Fransi rights trading period ends today, June 29, 2020.
Rights trading started on June 22, to increase the company’s capital from SAR 200 million to SAR 600 million, through a rights issue of 40 million shares at SAR 10 per share.
Rights issue subscription period, which also started on June 22, will end on July 2, 2020.
Rights holders are entitled to subscribe to the new shares partially or fully pro rata.
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Key Figures of the Capital Hike |
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Current capital |
SAR 200 mln |
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Number of shares |
20 mln shares |
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Hike (%) |
200% |
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New capital |
SAR 600 mln |
|
New shares |
60 mln shares |
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Rights Issue Details |
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Number of rights issue shares |
40.0 mln shares |
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Issue price |
SAR 10/share |
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Issue size |
SAR 400 mln |
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Record date |
(June 16, shareholders of record on June 18) |
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Rights coefficient |
Each shareholder is entitled to 2 rights for every share held |
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Start of right issue trading and subscription period |
June 22 |
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End of rights issue trading |
June 29 |
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End of trading new shares subscription period |
July 2 |
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Use of Proceeds |
To support business expansions, while maintaining the solvency margin required by SAMA. Proceeds will also go towards financing the increase in the statutory deposit required by SAMA. |
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Additional Information |
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Financial advisor, Lead manager and Underwriter |
ANB Invest |
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