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Salama Cooperative Insurance Co. Announces the Results of Right Issues Trading and New Shares Subscription, and the details of Selling Unsubscribed Shares
8050
SALAMA
0.97
%
1446/06/29 30/12/2024 09:32:45
| Element List | Explanation |
|---|---|
| Introduction | Salama Cooperative Insurance Company announces the results of rights issue trading and new shares subscription, as well as the details of the rump offering. |
| Total Number of Subscribed Shares out of the total Number of New Offered Shares | A number of (8,686,075) shares were subscribed for from the (10,000,000) new shares. |
| Value of the Subscribed Shares | 86,860,750 Saudi Riyals. |
| Coverage Percentage out of Total New Offered Shares (%) | 86.86 % |
| Remaining Offering Mechanism | Rump shares will be offered to a number of institutional investors (the “Institutional Investors”) who will submit purchase offers for the rump shares. The shares will be allocated to Institutional Investors with the highest offer to the lowest (provided that it is not less than the offer price), with shares being allocated on a proportional basis among those Institutional Investors that have tendered offers at the same price. If the institutional investors do not subscribe in all of the rump shares, the remaining unsubscribed shares will be allocated to the underwriter, Alawal Capital Company, who will subscribe in them for the offer price. |
| Remaining Offering Start Date | 2025-01-01 Corresponding to 1446-07-01 |
| Remaining Offering End Date | 2025-01-02 Corresponding to 1446-07-02 |
| Specification of the Remaining Offering Period Hours | The rump offering period for the unsubscribed shares amounting to (1,313,925) shares will start at 10:00 A.M. on Wednesday 01/07/1446 (corresponding to 01/01/2025) and continues until 5:00 P.M. on Thursday 02/07/1446 (corresponding to 02/01/2025). |
| Additional Information | In the event of any inquiries, kindly contact Salama’s Investor Relations - by calling at 0126845681 or by Email to: IR@Salama.com |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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