United Assurance rights issue 51% subscribed by 8th day

04/03/2015 Argaam

 

United Cooperative Assurance Company’s rights issue was 51 percent subscribed by the end of its eighth day, according to Alistithmar Capital, the lead manager and lead underwriter of the offering.

 

The first stage of the rights issue, open to registered shareholders, started Feb. 24 and will continue until 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 on Argaam.

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