Logo of Gulf Union Alahlia Cooperative Insurance Co.
Gulf Union Alahlia Cooperative Insurance Co. will close today, May 19, the subscription process to its new shares.
The subscription process began on May 9. The company offered 22.95 million rights shares at SAR 10 each, to increase capital from SAR 229.5 million to SAR 458.95 million.
The rights trading period ended on May 16.
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Capital Increase Highlights |
|
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Current capital |
SAR 229.50 mln |
|
Number of shares |
22.95 mln |
|
Capital increase (%) |
100% |
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Capital after increase |
SAR 458.95 mln |
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Number of shares after increase |
45.90 mln |
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Rights Issue Highlights |
|
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Number of offered shares |
22.95 mln |
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Offer price per share |
SAR 10 |
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Size of issue |
SAR 229.5 mln |
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Eligibility coefficient |
One right for every share held |
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Record date |
April 20, 2022 |
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Capital increase drivers |
To support the company’s plans, and strengthen its financial solvency and investment income |
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Capital increase method |
Via rights offer of 22.95 mln shares at a total value of SAR 229.5 million |
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