Al Alamiya for Cooperative Insurance Company’s general assembly on Wednesday approved a capital raise from SAR 200 million to SAR 400 million through a rights issue.
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Capital raise details |
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SAR 200 mln |
Current capital |
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20 mln shares |
Number of shares |
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100% |
Capital raise (%) |
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SAR 400 mln |
New capital |
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40 mln shares |
# of Shares after raise |
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Through a rights issue |
Capital raise method |
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Rights issue details |
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20 mln shares |
Number of rights shares |
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SAR 10/ share |
Rights issue price per share |
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SAR 200 mln |
Riaghts issue value |
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Jan. 6, 2015 |
Record date |
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From Jan. 13 to Jan. 27, 2015 |
Rights Issue Period |
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From Jan. 13 to Jan. 22 for the shareholders |
First rights issue period |
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From Jan. 25 to Jan. 27— All rights holders, whether registered shareholders or investors who bought rights during the first period, rights trading is not allowed during this period |
Second rights issue period |
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One right for every share |
Rights issued for every share |
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Maintain the minimum required solvency margin and support the company’s future activities. |
IPO proceeds use |
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