Logo of Wataniya Insurance Co.
The Saudi Exchange (Tadawul) announced today, April 24, that the subscription period and tradable rights trading for Wataniya Insurance Co. will start tomorrow, April 25.
The rights trading will end on May 9, while the subscription process will close on May 12.
The company's extraordinary general meeting, held earlier this month, approved the board’s recommendation to increase capital through a SAR 200 million rights issue, according to data available for Argaam.
The capital hike is aimed to support the company's future plans and solvency margin.
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Capital Hike Details |
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Current capital |
SAR 200 mln |
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Number of shares |
20 mln shares |
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Capital hike% |
100% |
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Capital after increase |
SAR 400 mln |
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Number of shares after increase |
40 mln shares |
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Rights Issue Details |
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Number of shares offered |
20 mln shares |
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Offer price |
SAR 10 |
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Size of issue |
SAR 200 mln |
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Eligibility ratio |
Each listed shareholder shall have the right for one share per each owned share. |
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Record date |
April 13, 2022 |
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Rights issue proceeds |
Financial investments |
SAR 150 mln |
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General works |
SAR 24 mln |
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Increasing the statutory deposit |
SAR 20 mln |
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Payment of the offering costs |
SAR 6 mln |
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