Allianz Saudi Fransi Cooperative Insurance Co.'s (Allianz SF) rights issue was 93.8% subscribed, as subscribers injected SAR 375.04 million in 37.5 million shares, according to a bourse statement.
The remaining shares will be reoffered to institutional investors pro rata on July 7-8, 2020.
On June 22, Allianz SF kicked off subscription to new shares and rights trading to raise its capital from SAR 200 million to SAR 600 million, Argaam reported.
On June 16, Allianz SF shareholders approved the board of directors’ recommendation to increase the company’s capital from SAR 200 million to SAR 600 million through a rights issue, Argaam reported.
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Rights Issue Details |
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Number of rights issue shares |
40.0 mln shares |
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Number of subscribed shares |
37.50 mln shares |
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Subscription value |
SAR 375.04 mln |
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Subscription ratio |
93.76% |
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Number of remaining shares |
2.50 mln shares |
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Period of offering remaining shares |
July 7-8, 2020 |
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