Edaa adds Al Sagr subscribed securities to shareholder accounts

Logo of Al Sagr Cooperative Insurance Co.

The Securities Depository Center Co. (Edaa) announced today, July 25, the addition of the subscribed securities of Al Sagr Cooperative Insurance Co. to the accounts of eligible shareholders, according to Tadawul website.

The insurer offered 16 million ordinary shares at SAR 10 each, to increase capital via a SAR 160 million rights issue to SAR 300 million, divided into 30 million shares, as reported earlier by Argaam.

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The rights issue was 89.79% covered as 14.37 million out of the total shares offered reaching 16 million, were subscribed at SAR 143.67 million. Meanwhile, the rump offering was 608.7% oversubscribed.