Saudi Enaya’s rights trading period ends today

17/11/2022 Argaam Special
Logo ofSaudi Enaya Cooperative Insurance Co.

Logo of Saudi Enaya Cooperative Insurance Co.


Saudi Enaya Cooperative Insurance Co.’s rights trading period ends today, Nov. 17.

 

Rights trading period started on Nov. 10 to increase the company’s capital from SAR 100 million to SAR 230 million.

 

Subscription period, which also started on Nov. 10, will continue until Nov. 22.

 

Rights issue holders are allowed to exercise their right to subscribe to new shares (in full or in part) up to the number of shares available in their portfolios.

 

Capital Increase Details

Current capital

SAR 100 mln

Number of shares

10 mln

Capital increase (%)

130%

Capital after increase

SAR 230 mln

Number of shares after increase

23 mln

 

Key Highlights of Rights Issue

Number of Offered Shares

13 mln

Offering Price

SAR 10/share

Offering Size

SAR 130 mln

Eligibility Ratio

Nearly 1.3 rights for every share

Record Date

Shareholders of record on Nov. 6 and those registered with Edaa on the second trading day following the extraordinary general meeting (EGM) date

Proceeds

Bank deposits

SAR 53.8  mln

Investment funds

SAR 26.9  mln

Bonds and sukuk

SAR 26.9  mln

Statutory deposit

SAR 12.0 mln

Offering cost

SAR 10.4 mln

 

Total

SAR 130 mln

 
 

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