Allianz Saudi Fransi rights trading period ends today

29/06/2020 Argaam

 

Allianz Saudi Fransi rights trading period ends today, June 29, 2020.

 

Rights trading started on June 22, to increase the company’s capital from SAR 200 million to SAR 600 million, through a rights issue of 40 million shares at SAR 10 per share.

 

Rights issue subscription period, which also started on June 22, will end on July 2, 2020.

 

Rights holders are entitled to subscribe to the new shares partially or fully pro rata.

 

 

Key Figures of the Capital Hike

Current capital

SAR 200 mln

Number of shares

20 mln shares

Hike (%)

200%

New capital

SAR 600 mln

New shares

60 mln shares

Rights Issue Details

Number of rights issue shares

40.0 mln shares

Issue price

SAR 10/share

Issue size

SAR 400 mln

Record date

(June 16, shareholders of record on June 18)

Rights coefficient

Each shareholder is entitled to 2 rights for every share held

Start of right issue trading and subscription period

June 22

End of rights issue trading

June 29

End of trading new shares subscription period

July 2

Use of Proceeds

To support business expansions, while maintaining the solvency margin required by SAMA. Proceeds will also go towards financing the increase in the statutory deposit required by SAMA.

Additional Information

Financial advisor, Lead manager and Underwriter

ANB Invest

 

For more IPOs  

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