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×Brief
Company Status: | Listed |
Business Activity: | The company is a provider of cooperative insurance and reinsurance services. |
Current Capital: | 450.00 Million Riyal |
Current No. of Shares (M) (M): |
IPO Facts
Issue Type: | Right Issue |
Status: | Listed |
Exchange Market: | TASI |
Sector: | Insurance |
Country: | Saudi Arabia |
Offered Shares (M): | |
Offered Percentage: | 125.00 % |
Offer Price (Riyal): | 10.00 |
Issue Volume (M Riyal): | 250.00 |
Premium: | 0.00 Riyal |
Available Shares (Individual): | |
Minimum Subscription (Individuals): | |
Maximum Subscription (Individuals): | - |
Available Shares (Institutions): | - |
Minimum Subscription (Institutions): | - |
Maximum Subscription (Institutions): | - |
Eligibility : | All holders of Rights, whether they are Registered Shareholders (on February 10, 2015) or purchasers of Rights during the Trading period |
Use of Proceeds: | The net proceeds of the Offering will be used in: 1. Maintaining a sufficient solvency margin. 2. Developing the company's current operations. 3. Financing part of the insurance portfolio. |
Restrictions on Dealing in Shares: | The Company’s shares were listed in Tadawul on July 27, 2009 and the restriction period already elapsed. After the shares restrictions are elapsed, the Founding Shareholders may only dispose their shares after obtaining CMA and SAMA's approval |
Prospectus: | Downloads |
: | - |
Key Dates
Capital Market Authority Approval: | - |
The minimum & maximum offering price: | 2/17/2015 |
Subscription End Date: | 3/3/2015 |
Allocation Date: | 3/11/2015 |
Distribution Date: | 3/11/2015 |
Listing Date: | 3/19/2015 |
Major Shareholders
Name | No. of Shares | Holding | Value |
---|---|---|---|
Gulf Insurance Group (Gulf) B.S.C | 26.25 | 50.00 % | 1,013.25 |
Advisors
Lead Manager: | Saudi Fransi Capital |
Underwriter: | Saudi Fransi Capital |
Financial Advisor: | Saudi Fransi Capital |
Legal Advisor: | Clifford Chance Co. |
Auditor: | - |
Receiving Bank: | Arab National Bank, Riyad Bank, Samba Financial Group, Banque Saudi Fransi, The Saudi National Bank |
IPO results
Proceeds: | SAR 242.8mn |
Subscription Percentage: | 94.82% |
No. of Subscribers: | - |
Allocation: | 1.25 right per share (125%) |
Chart - Gulf Insurance Group
Share Performance
Last Price: | 38.60 |
Change: | (0.52) % |
Market Cap (M): | 2,026.50 |
Turnover: | 7,062,865.00 |
Transactions: | 578.00 |
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