Logo of Salama Cooperative Insurance Co.
Salama Cooperative Insurance Co.’s rights trading period ends today, Nov. 16.
Rights trading period started on Nov. 9, to increase the company’s capital from SAR 100 million to SAR 200 million.
Subscription period, which also started on Nov. 9, will continue until Nov. 21.
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.
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Capital Increase Details |
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Current capital |
SAR 100 mln |
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Current number of shares |
10 mln |
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Capital increase (%) |
100% |
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Capital after increase |
SAR 200 mln |
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Number of shares after increase |
20 mln |
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Rights Issue Details |
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Offered shares |
10 mln |
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Offer price |
SAR 10 |
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Issue size |
SAR 100 mln |
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Rights subscription |
Nov. 9-21, 2023 |
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Rights trading |
Nov. 9-16, 2023 |
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Reason |
Supporting plans and boosting solvency |
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Record date |
Nov. 5, 2023 |
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Eligibility ratio |
Each shareholder will be granted one right for every share held |
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Rights issue proceeds |
Bank deposits |
SAR 58.7 mln |
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Bonds & Sukuk |
30 mln |
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Offering fees and costs |
SAR 11.3 mln |
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Total |
SAR 100 mln |
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