Edaa deposits Arabia Insurance subscribed securities into shareholders’ portfolios

22/12/2022 Argaam

Edaa deposits Arabia Insurance subscribed securities into shareholders’ portfolios

Logo of Arabia Insurance Cooperative Co. (AICC)

The Securities Depository Center Co. (Edaa) announced depositing Arabia Insurance Cooperative Co.’s (AICC) subscribed securities into the accounts of eligible shareholders today, Dec. 22, according to a statement to Tadawul.

 

The insurer’s rights trading period started on Nov. 27 and ended on Dec. 4.

 

The Saudi insurer offered 26.50 million shares, at SAR 10 each.

 

Shareholders approved a capital increase by 100% through a SAR 265 million rights offering, according to data available with Argaam.

 

The offering was 64.65% covered via subscription to 17.13 million shares, out of 26.50 million shares. The rump offering was 100% subscribed.

 

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