Logo of Al Sagr Cooperative Insurance Co.
Al Sagr Cooperative Insurance Co. announced that the rump offering of its rights issue was 608.7% oversubscribed, according to a statement to Tadawul today, July 24.
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Offering Details |
|
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Number of Shares Sold |
1.63 mln |
|
Total Rump Offering Proceeds |
SAR 31.96 mln |
|
Coverage Ratio (%) |
608.7% |
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Average Price/Share Sold |
SAR 19.57 |
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Net Compensation for Holders of Rights & Fractional Shares |
SAR 15.63 mln |
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Date of Depositing Shares into Shareholders Accounts |
July 25, 2024 |
Subscription to the rights issue ended on July 14, according to Argaam's data.
During the subscription period, which began on July 2, the company offered 16 million shares at SAR 10 each, totaling SAR 160 million, to increase capital to SAR 300 million divided into 30 million shares.
The subscription coverage reached 89.79% of the total offered shares, with 14.37 million out of 16 million new shares subscribed at SAR 143.67 million.
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