Riyadh-Mubasher: AXA Cooperative Insurance will start the second phase of its rights issue tomorrow, Sunday, March 1. This phase will continue until Tuesday, March 3.

Registered shareholders or those who purchased the priority rights during the trading period can exercise their subscription rights. The priority rights cannot be traded during this phase.

The rights issue of AXA has been 75.8% subscribed in nine days, said Saudi Fransi Capital, the offering’s financial advisor, lead manager and underwriter.