Logo of Wataniya Insurance Co.
Wataniya Insurance Co.'s rights trading will close today, May 9, to increase capital by 100% from SAR 200 million to SAR 400 million, according to a bourse filing.
The insurer’s subscription to new shares and rights trading began on April 25. Subscription to new shares will close on May 12.
Rights holders are allowed to exercise their right to subscribe to new shares (in full or in part) up to the number of shares available in their portfolios.
|
Capital Increase Details |
|
|
Current capital |
SAR 200 mln |
|
Number of shares |
20 mln |
|
Capital increase (%) |
100% |
|
Capital after increase |
SAR 400 mln |
|
Number of shares after increase |
40 mln |
|
Rights Issue Details |
||
|
Number of offered shares |
20 mln |
|
|
Offering price per share |
SAR 10 |
|
|
Size of issue |
SAR 200 mln |
|
|
Eligibility coefficient |
Nearly one right for every share held |
|
|
Record date |
April 13, 2022 |
|
|
Rights issue proceeds |
Financial investments |
SAR 150 mln |
|
General business |
SAR 24 mln |
|
|
Increasing the statutory reserve |
SAR 20 mln |
|
|
Estimated offering costs |
SAR 6 mln |
|
On April 13, Wataniya’s shareholders approved the board of directors’ recommendation to increase capital via SAR 200 million rights issue, according to data compiled by Argaam.
Comments
{{DisplayName}}
{{ElapsedTime}}