ATC announces developments of use of December 2011 IPO proceeds

01/04/2014 Argaam

Al Ahli Takaful Company (ATC) announced today on Tadawul developments of use of December 2011 IPO proceeds 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.

994.4 thousand

Kept as statutory reserve

7.9m

Statutory deposit

6.7m

Remaining amount to keep required solvency margin

58.9m

 

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