Al Alamiya Insurance announces the prospectus of its SAR 200m rights issue IPO

Al Alamiya for Cooperative insurance Company announced the prospectus of its SAR 200m capital raise through a rights issue at SAR 10 per share.

The rights will be issued to registered shareholders at the extraordinary general assembly’s day; the company indicated in the prospectus.

It added that the rights will be deposited into investors’ portfolios within two days from the record date.

According to data compiled by Argaam; Al Alamiya insurance announced in November receiving the CMA’s approval for a capital raise of SAR 200m through a rights issue.

Capital raise details
SAR 200 mn		Current capital
20 mn shares		Number of shares
100%		Capital raise (%)
SAR 400 mn		New capital
Rights issue details
20 mn shares		Number of IPO shares
SAR 10/ share		IPO price per share
SAR 200 mn		IPO value
Not determined		Record date
-SAR 10 mn issuance fees. -Maintain the minimum required solvency margin.		IPO proceeds use
Additional Information
GIB Capital	Financial advisor, lead manager and lead underwriter
NCB, SABB, SAMBA	Receiving Banks

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