Gulf General Cooperative Insurance Co. said the rights issue remaining shares were 425.9% oversubscribed, according to a bourse filing.
Gulf General’s rights issue was 72.39% subscribed, as subscribers injected SAR 217.16 million in 21.72 million shares.
The subscription period started on July 5, to increase capital from SAR 200 million to SAR 500 million, Argaam reported.
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Rights Issue Details |
|
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Number of rights issue shares |
30 mln shares |
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Number of remaining shares |
8.28 mln |
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Date of remaining shares offering |
July 27 – July 28, 2021 |
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Number of subscribed shares |
21.72 mln |
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Coverage ratio |
425.9% |
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Total proceeds |
SAR 140.60 mln |
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Average price |
SAR 16.97 per share |
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Net sale fractions |
SAR 57.76 mln |
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Date of depositing shares in eligible accounts |
Aug. 5, 2021 |
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