Wataniya Insurance rights issue 83.23% subscribed

15/05/2022 Argaam

Logo of Wataniya Insurance Co.

Wataniya Insurance Co. announced the details of its rights issue, subscription to new shares and offering of the unsubscribed shares.

 

Rights Issue Details

Number of Rights Issue Shares

20 mln 

Number of Subscribed Shares

16.65 mln

Subscription Value

SAR 166.47 mln

Coverage Ratio (%)

83.23%

Number of Remaining Shares

3.35 mln

Date of Offering Remaining Shares

May 17-18, 2022
 

The rump shares will be offered to a number of institutional investors, provided that those institutions submit purchase offers.

 

Rump shares will be allocated to the institutional investors from highest to lowest bids pro rata. If institutional investors have not subscribed to all the rump shares, the remaining shares will be allocated to the underwriter at the offering price.

 

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