Logo of Gulf Union Alahlia Cooperative Insurance Co.

Gulf Union Alahlia Cooperative Insurance Co. will close today, May 16 its rights trading period to increase its capital from SAR 229.5 million to SAR 458.95 million.

 

The subscription to new shares began on May 9 and will continue through May 19.

 

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

 

Capital Increase Highlights

Current capital

SAR 229.50 mln

Number of shares

22.95 mln

Capital increase (%)

100%

Capital after increase

SAR 458.95 mln

Number of shares after increase

45.90 mln

 

Rights Issue Highlights

Number of offered shares

22.95 mln

Offer price per share

SAR 10

Size of issue

SAR 229.5 mln

Eligibility coefficient

One right for every share held

Record date

April 20, 2022

Capital increase drivers 

To support the company’s future plans, and strengthen its financial solvency and investment income

Capital increase method

To offer rights 22.95 mln shares at a total value of SAR 229.5 million
 

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