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Saudi Stock Exchange (Tadawul) said the first subscription period and tradable rights trading for Al Alamiya for Cooperative Insurance will start today, Tuesday, Jan. 13.
The fluctuation limits for trading tradable rights are larger than the company's fluctuation limits of share price.
The company earlier said the extraordinary general meeting approved the board’s recommendation on increasing capital by 100% through a rights issue from SAR 200 million (20 million shares) to SAR 400 million (40 million shares).
Al Alamiya said registered shareholders and the public shall be able to subscribe during the period from Tuesday, Jan. 13, 2015 until the close of trading on Tuesday, Jan. 27, 2015. It added that the offering shall be effected in two phases.
Photo Credit: Arabianeye-Reuters
The fluctuation limits for trading tradable rights are larger than the company's fluctuation limits of share price.
The company earlier said the extraordinary general meeting approved the board’s recommendation on increasing capital by 100% through a rights issue from SAR 200 million (20 million shares) to SAR 400 million (40 million shares).
Al Alamiya said registered shareholders and the public shall be able to subscribe during the period from Tuesday, Jan. 13, 2015 until the close of trading on Tuesday, Jan. 27, 2015. It added that the offering shall be effected in two phases.
Photo Credit: Arabianeye-Reuters
Source:
Mubasher
