United Assurance rights issue 10.1% subscribed by 6th day

United Cooperative Assurance Company’s rights issue was 10.1 percent subscribed by the end of its sixth day, according to Alistithmar Capital, the lead manager and underwriter of the offering.

The first stage of the rights issue, open to registered shareholders, started Feb. 24 and will continue to March 5.

The insurance company is offering 21 million shares at SAR 10 per share to raise its capital from SAR 280 million to SAR 490 million, according to data available by Argaam.