Edaa deposits Salama’s subscribed securities

04/12/2023 Argaam

Edaa deposits Salama’s subscribed securities

Logo of Salama Cooperative Insurance Co.

The Securities Depository Center Co. (Edaa) deposited today, Dec. 4, the subscribed securities of Salama Cooperative Insurance Co. into the accounts of eligible shareholders, according to a Tadawul filing.

 

Salama earlier offered 10 million shares at SAR 10 per share for a total of SAR 100 million to raise its capital from SAR 100 million to SAR 200 million, according to data compiled by Argaam.

 

The rights issue was 91.09% covered, whereas 9.11 million shares out of the total 10 million new offered shares were subscribed at a value of SAR 91.09 million, while the rump offering of its rights issue was 934.34% covered.

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