Al-Ahlia’s rights issue undersubscribed

24/07/2014 Argaam

Al-Ahlia for Cooperative Insurance Company’s rights issue was undersubscribed by around 86.95 percent, and residual shares will be offered to institutional investors next month.

Al-Ahlia allocated a total of 19.13 million shares (valued SAR 191.3 million), accounting for 86.95 percent of the offered shareholding, a filing on Tadawul said.

The remaining percentage will be offered to the highest bids from institutional investors on August 3.

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