Logo of Saudi Enaya Cooperative Insurance Co.
Saudi Enaya Cooperative Insurance Co.’s rights trading period ends today, Nov. 17.
Rights trading period started on Nov. 10 to increase the company’s capital from SAR 100 million to SAR 230 million.
Subscription period, which also started on Nov. 10, will continue until Nov. 22.
Rights issue holders are allowed to exercise their right to subscribe to new shares (in full or in part) up to the number of shares available in their portfolios.
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Capital Increase Details |
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Current capital |
SAR 100 mln |
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Number of shares |
10 mln |
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Capital increase (%) |
130% |
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Capital after increase |
SAR 230 mln |
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Number of shares after increase |
23 mln |
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Key Highlights of Rights Issue |
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Number of Offered Shares |
13 mln |
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Offering Price |
SAR 10/share |
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Offering Size |
SAR 130 mln |
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Eligibility Ratio |
Nearly 1.3 rights for every share |
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Record Date |
Shareholders of record on Nov. 6 and those registered with Edaa on the second trading day following the extraordinary general meeting (EGM) date |
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Proceeds |
Bank deposits |
SAR 53.8 mln |
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Investment funds |
SAR 26.9 mln |
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Bonds and sukuk |
SAR 26.9 mln |
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Statutory deposit |
SAR 12.0 mln |
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Offering cost |
SAR 10.4 mln |
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Total |
SAR 130 mln |
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