Salama Cooperative Insurance Co. Announces the Results of Right Issues Trading and New Shares Subscription, and the details of Selling Unsubscribed Shares
| Element List | Explanation |
|---|---|
| Introduction | Salama Cooperative Insurance Company Announces the Results of Right Issues Trading, New Shares Subscription, and the Details of Selling Unsubscribed Shares |
| Total Number of Subscribed Shares out of the total Number of New Offered Shares | A number of 9,108,930 shares were subscribed from the newly offered shares out of a total number of 10,000,000 new shares. |
| Value of the Subscribed Shares | 91,089,300 Saudi Riyals |
| Coverage Percentage out of Total New Offered Shares (%) | 91.09 % |
| Remaining Offering Mechanism | Rump Shares will be offered at a minimum of the Offering Price to a number of Institutional Investors, and such Institutional Investors may submit offers to purchase the Rump Shares. Rump Shares will be allocated to the Institutional Investors with the highest bid and then the lowest to the lowest. The shares will be allocated proportionately to the Institutional Investors submitting the same offer. In the event that Institutional Investors have not subscribed to all the Rump Shares, the remaining will be allocated to the Underwriter "AlAwwal Capital Company" who will buy them at the Offering Price. |
| Remaining Offering Start Date | 2023-11-26 Corresponding to 1445-05-12 |
| Remaining Offering End Date | 2023-11-27 Corresponding to 1445-05-13 |
| Specification of the Remaining Offering Period Hours | The Rump Offering Period for the unsubscribed shares amounting to 891,070 shares, shall start at 10:00 am on Sunday 12/05/1445H corresponding to 26/11/2023G and continue until 5:00 pm on Monday 13/05/1445H corresponding to 27/11/2023G. |
| Additional Information | Prospective Investors are welcome to submit their queries during daily working hours from 8:00 am to 4:00 pm, through one of the following means:
0126845653 0126845627 0126845658 0126845681 Email: [email protected] |
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