Riyadh – Mubasher: Amana Cooperative Insurance Company has registered a 71.91% coverage rate of its right issue and subscription volume.

A total of 21.57 million shares were subscribed at a value of SAR 215.73 million, according to a bourse filing.

Moreover, the listed company noted that the 8.42 million rump shares will be offered for subscription during 21-22 June.

Last May, the shareholders of Amana Cooperative Insurance greenlighted a 230.70% capital hike recommendation by offering a rights issue.

The Saudi insurer planned to increase its capital by SAR 300 million to SAR 430 million from SAR 130 million.