Logo of Allied Cooperative Insurance Group
Allied Cooperative Insurance Group’s (ACIG) rights subscription period ends today, Jan. 13.
Subscription period started on Jan. 3 to increase the company’s capital from SAR 141 million to SAR 291 million, through a rights issue of 15 million shares at SAR 10 per share.
Rights trading period, which also started on Jan. 3, ended on Jan. 10.
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Capital Increase Details |
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Current capital |
SAR 141 mln |
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Number of shares |
14.1 mln |
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Capital increase % |
106% |
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Capital after increase |
SAR 291 mln |
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Number of shares after increase |
29.1 mln |
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Rights Issue Highlights |
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Number of offered shares |
15 mln |
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Offering price per share |
SAR 10 |
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Issuance size |
SAR 150 mln |
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Record date |
Dec. 29, 2021 (Shareholders of record at Edaa by the close of trading on the second trading day following the extraordinary general meeting (EGM) date) |
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Rights coefficient |
1.06 rights for each share held |
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Rights subscription period |
Jan. 3-13 |
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Use of rights issue proceeds |
Financial investments |
SAR 124.5 mln |
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Statutory deposit |
SAR 22.5 mln |
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Issue costs |
SAR 3 mln |
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