Logo of Wataniya Insurance Co.
Wataniya Insurance Co.’s subscription to new shares will close today, May 12.
The insurer offered 20 million shares at SAR 10 each, to increase capital by 100% from SAR 200 million to SAR 400 million.
The insurer’s subscription to new shares and rights trading began on April 25. The rights trading period ended on May 9.
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Capital Increase Details |
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Current capital |
SAR 200 mln |
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Number of shares |
20 mln |
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Capital increase (%) |
100% |
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Capital after increase |
SAR 400 mln |
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Number of shares after increase |
40 mln |
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Rights Issue Details |
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Number of offered shares |
20 mln |
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Offering price per share |
SAR 10 |
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Size of issue |
SAR 200 mln |
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Eligibility coefficient |
Nearly one right for every share held |
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Record date |
April 13, 2022 |
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Rights issue proceeds |
Financial investments |
SAR 150 mln |
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General business |
SAR 24 mln |
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Increasing the statutory reserve |
SAR 20 mln |
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Estimated offering costs |
SAR 6 mln |
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On April 13, Wataniya’s shareholders approved the board of directors’ recommendation to increase capital via SAR 200 million rights issue, according to data compiled by Argaam.
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