Riyadh – Mubasher: Arab National Bank Investment Co, the financial consultant and subscription manager of Wataniya Insurance, said that the offering of the undersubscribed shares ended Monday Morning.

The company added that the remaining stocks will be allocated for the investment institutions, by giving the priority to the highest price.

The financial consultant announced earlier that 9.37 million shares were subscribed at a value of SAR 93.69 million in both tranches, with rights issue subscribed by 93.69%.

The first tranche in the subscription process started on 9 August and ended on 18 August, where 7.83 million shares were sold at a value of SAR 78.34 million. The rights issue at this stage was 78.34% subscribed.

The second stage of subscription started on 21 August and lasted till 23 August, where 1.54 million shares were sold at a value of SAR 15.35 million. The rights issue at this stage was 15.35% subscribed.