Logo of Walaa Cooperative Insurance Co.
Walaa Cooperative Insurance Co.’s rights trading and subscription period ends today, Dec. 9. The rights issue sought to increase the company’s capital from SAR 850.58 million to SAR 1.27 billion.
The rights trading and subscription period started on Dec. 2. The subscription period will end on Dec. 12.
Right holders may subscribe, in whole or in part, to the new shares in proportion to the rights existing in their portfolios.
|
Capital Hike Details |
|
|
Current Capital |
SAR 850.58 mln |
|
Current Number of Shares |
85.06 mln |
|
New Capital |
SAR 1.27 bln |
|
Number of Shares after Increase |
127.55 mln |
|
Capital Increase (%) |
49.97% |
|
Rights Issue Details |
||
|
Offered Shares |
42.5 mln |
|
|
Offer Price |
SAR 11 |
|
|
Issue Size |
SAR 467.5 mln |
|
|
Eligibility Ratio |
Each listed shareholder shall have the right to subscribe to 0.4997 share for each existing share |
|
|
Record Date |
Nov. 26, 2024 (Shareholders of record who are registered with Edaa by the end of the second trading day following the EGM) |
|
|
Trading Period |
From Dec. 2 until Dec. 9, 2024 |
|
|
Subscription Period |
From Dec. 2 until Dec. 12, 2024 |
|
|
Reason |
Supporting the company’s growth and expansion plans, enhancing the financial solvency margin, and maintaining the credit rating. |
|
|
Proceeds (SAR mln) |
Increasing the statutory deposit as per SAMA's requirements |
42.5 |
|
Long-term investments such as bonds and other fixed-income investments, bank deposits, mutual funds, REITs, and investments in private companies |
345.0 |
|
|
Investing in Saudi-listed equities |
70.90 |
|
|
Offering costs |
9.1 |
|
|
Total |
467.5 |
|
|
Financial Advisor, Underwriter & Lead Manager |
AlJazira Capital |
|
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}