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×Brief
Company Status: | Unlisted |
Business Activity: | The company provides takaful insurance and reinsurance services. |
Current Capital: | 200.00 Million Riyal |
Current No. of Shares (M) (M): |
IPO Facts
Issue Type: | IPO |
Status: | Listed |
Exchange Market: | TASI |
Sector: | Insurance |
Country: | Saudi Arabia |
Offered Shares (M): | |
Offered Percentage: | 66.67 % |
Offer Price (Riyal): | 10.00 |
Issue Volume (M Riyal): | 80.00 |
Premium: | 0.00 Riyal |
Available Shares (Individual): | |
Minimum Subscription (Individuals): | |
Maximum Subscription (Individuals): | 100.00 Shares |
Available Shares (Institutions): | - |
Minimum Subscription (Institutions): | - |
Maximum Subscription (Institutions): | - |
Eligibility : | Saudi Citizens |
Use of Proceeds: | The net IPO proceeds is to be used in: 1 - Establishing and developing the company's projects in the field of insurance services 2 - Maintaining the minimum capital as instructed by the control system of Cooperative Insurance Companies and its implementing regulations |
Restrictions on Dealing in Shares: | The Founding shareholders may not dispose any of their shares before three years "Lock Up Period" from the establishment date . After the shares restrictions are elapsed, the Founding shareholders may only dispose their shares after obtaining CMA and SAMA approvals |
Prospectus: | - |
: | - |
Key Dates
Capital Market Authority Approval: | - |
The minimum & maximum offering price: | 4/18/2009 |
Subscription End Date: | 4/27/2009 |
Allocation Date: | 5/2/2009 |
Distribution Date: | 5/2/2009 |
Listing Date: | 6/20/2009 |
Major Shareholders
Name | No. of Shares | Holding | Value |
---|---|---|---|
First takaful insurance company | 4.00 | 20.00 % | - |
International Financial Advisors K.S.C.C | 1.00 | 5.00 % | - |
QAF Investment Company | 1.00 | 5.00 % | - |
Advisors
Lead Manager: | SAB INVEST |
Underwriter: | SAB INVEST |
Financial Advisor: | Rana Investment Company |
Legal Advisor: | Mohanad Saud Al Rasheed Law Office, The Law Office of Abdulaziz H. Al Fahad and Partners |
Auditor: | KPMG Al Fozan & Partners |
Receiving Bank: | Arab National Bank, Saudi Awwal Bank, Samba Financial Group, Alawwal Bank |
IPO results
Proceeds: | SAR 246mn |
Subscription Percentage: | 330% |
No. of Subscribers: | 461K |
Allocation: | The allocation rate was set at 17 shares per individual subscriber |
Chart - Weqaya Takaful insurance and reinsurance Company
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