Al Rajhi Takaful launches second stage of rights issue

29/03/2015 Argaam
Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) launched on Sunday the second stage of its rights issue, which is set to last untilMarch 31. 
 
The bourse-listed insurer is offering 20 million shares at SAR 10 per share to raise its capital from SAR 200 million to SAR 400 million.
 
During this stage, all rights holders— whether registered shareholders or investors who bought rights during the first stage— are allowed to exercise their rights. 
 
Unsubscribed shares after this stage will be floated as published in the prospectus. Rights, however, may not be traded during this stage.
 
The first stage of the rights issue began on March 17 and continued to March 26, according to data compiled by Argaam.

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