ATC announces the use of December 2011 IPO proceeds

21/07/2013 Argaam

Al Ahli Takaful Company (ATC) announced today on tadawul the use of December 2011 IPO proceeds untill 30/6/2013 as follows:

 

 

Description

Amount in SAR

Gross IPO proceeds

80m

IPO fees and expenses

5.5m

Investment in trade mark, developing current insurance products and launching new products.

0.5m

Kept as statutory reserve

7.9m

Statutory deposit

6.7m

Remaining amount to keep required solvency margin

59.4m

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