Second phase of Wataniya rights issue starts today

21/08/2016 Argaam

Wataniya Insurance Co.’s second phase of its SAR 100 million rights issue will start today and continue until August 23, the company said in a statement to Tadawul.

 

The insurer is offering 10 million shares at SAR 10 per share to double its capital to SAR 200 million.

 

During the second round, both rights holders and registered shareholders are eligible to subscribe to new shares. However, rights can’t be traded by shareholders or investors during this stage.

 

Proceeds generated from the rights issue will be used to finance the restructuring of some business segments and boost Wataniya’s statutory deposit, the insurer said earlier.

 

" More on Initial Public Offerings "

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read