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×Brief
Company Status: | Unlisted |
Business Activity: | The company provides insurance and reinsurance services |
Current Capital: | 350.00 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: | 100.00 % |
Offer Price (Riyal): | 10.00 |
Issue Volume (M Riyal): | 175.00 |
Premium: | 0.00 Riyal |
Available Shares (Individual): | |
Minimum Subscription (Individuals): | |
Maximum Subscription (Individuals): | - |
Available Shares (Institutions): | - |
Minimum Subscription (Institutions): | - |
Maximum Subscription (Institutions): | - |
Eligibility : | All subscription rights from either registered shareholders or public institutional investors and individuals which they purchase subscription rights through trading period |
Use of Proceeds: | The net proceeds of the offering will be used to maintain the minimum required solvency margin and support the company’s future investments. |
Restrictions on Dealing in Shares: | Founders may not dispose of any of their shares during a period of full three (3) years which not less than 12 month from the foundation date. At the end of the lock-in period of three (3) years, the aforementioned shareholders may dispose of their shares on the condition that they obtain SAMA’s prior approval |
Prospectus: | Downloads |
: | - |
Key Dates
Capital Market Authority Approval: | - |
The minimum & maximum offering price: | 3/1/2016 |
Subscription End Date: | 3/15/2016 |
Allocation Date: | 3/24/2016 |
Distribution Date: | 3/31/2016 |
Listing Date: | 3/27/2016 |
Advisors
Lead Manager: | SAB INVEST |
Underwriter: | SAB INVEST |
Financial Advisor: | SAB INVEST |
Legal Advisor: | Abdulaziz Alassaf & Partners Law Firm |
Auditor: | Al Bassam & Co |
Receiving Bank: | Arab National Bank, The Saudi National Bank, Riyad Bank |
IPO results
Proceeds: | SAR 165.6 mln |
Subscription Percentage: | %94.64 |
No. of Subscribers: | 2780K |
Allocation: | one right per share |
Chart - MetLife AIG ANB Cooperative Insurance Company.
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