AXA Insurance rights issue 75.8% subscribed by 9th day

26/02/2015 Argaam

AXA Cooperative Insurance Company’s rights issue was 75.8 percent subscribed by the end of its ninth day, according to Saudi Fransi Capital, the financial advisor and lead manager of the offering.

 

The first stage of the rights issue, open to registered shareholders, started Tuesday and will continue to Feb. 26.

 

The insurance company is offering 25 million shares at SAR 10 per share to raise its capital from SAR 200 million to SAR 450 million, according to data available by Argaam.

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