Arabia Insurance rump offering 100% oversubscribed

18/12/2022 Argaam

Arabia Insurance rump offering 100% oversubscribed

Logo of Arabia Insurance Cooperative Co. (AICC)


Arabia Insurance Cooperative Co. (AICC) announced that the rump offering was 100% oversubscribed, according to a Tadawul statement today, Dec. 18.

 

Rump Offering Details

Number of Shares Sold

9.37 mln

Total Proceeds from Selling Rump Shares

SAR 93.68 mln

Number of shares covered by investment institutions

8.65 mln

Coverage Ratio (%)

92.33%

Number of shares covered by the underwriter (Al Rajhi Capital)

717,750

Coverage Ratio (%)

7.67%

Average Share Price

SAR 10/share

Net Compensation for Rights Issue & Fraction Shareholders

--

Date of Depositing Shares in Shareholders Accounts

Dec. 21

 

Arabia Insurance closed its rights offering on Dec. 8 to increase its capital from SAR 265 million to SAR 530 million.

 

For More IPOs

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read