AXA Insurance rights issue 8.2% subscribed by second day

19/02/2015 Argaam

 

AXA Cooperative Insurance Company’s rights issue was 8.2 percent subscribed by the end of its second day, according to Saudi Fransi Capital, the financial advisor and lead manager of the process.

AXA is offering 25 million shares at SAR 10 per share to increase its capital from SAR 200 million to SAR 450 million.

The first phase— open only for registered shareholders— started on Feb. 10 and is set to last until Feb. 26, according to data compiled by Argaam.

 

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