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ACIG's rights issue 89% covered

ACIG's rights issue 89% covered
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1.62% 16.30 0.26

Riyadh – Mubasher: Allied Cooperative Insurance Group (ACIG) has recorded an 88.86% coverage rate of its right issues and subscription.

A total of 13.329 out of 15 million shares were subscribed at a total value of SAR 133.296 million, according to a bourse filing on Sunday.

The rump shares will be offered to a number of institutional investors, provided that those institutions submit purchase offers.

It is noteworthy to mention that in late December 2021, the extraordinary general meeting (EGM) of ACIG approved a capital increase by SAR 150 million by offering priority rights.