Logo ofSalama Cooperative Insurance Co.
Salama Cooperative Insurance Co.announced today, Dec. 15, that subscriptions to new shares and rights trading will begin on Dec. 17. Rights trading will end on Dec. 24, while subscription to new shares will close on Dec. 29. 
Rights holders are allowed to exercise their right to subscribe to new shares (in full or in part) up to the number of right issues available in their portfolios. Trading in rights and subscriptions to new shares for registered shareholders and new investors will be in accordance with the prospectus, according to a statement to Tadawul.
The remaining and fractional shares, if any, will be offered to institutional investors, according to the prospectus. Alawwal Capital will underwrite the rights issue if the entire subscription is not fully covered, the statement added.
Investors not willing to subscribe must sell their rights during the specified trading period to avoid the decline in the value of their investment portfolios as a result of not benefiting from their rights, whether by way of sale or subscription, the company said.
Salama shareholders approved lately the board’s recommendation to increase capital by SAR 100 million rights issue (one share for each two existing shares).
Capital Increase Details
Current capital
SAR 200 mln
CurrentNumber of shares
20 mln
Capital increase (%)
50%
Capital after increase
SAR 300 mln
Number of shares after increase
30 mln
Reason
Fulfilling the minimum requirements of the Insurance Authority
Record Date
Dec. 11, 2024, for those registered with Edaa on the second trading day following the general meeting date.
Rights Issue Details
Offered Shares
10 mln
Offer Price
SAR 10
Issue Size
SAR 100 mln
Eligibility ratio
Each shareholder will be granted 1 right for every two shares held
Rights Issue Proceeds
Banks Deposits
SAR 87.5 mln
Deposit’s Increase
SAR 7.5 mln
Offering fees and costs
SAR 5 mln
Logo ofSalama Cooperative Insurance Co.
Salama Cooperative Insurance Co.announced today, Dec. 15, that subscriptions to new shares and rights trading will begin on Dec. 17. Rights trading will end on Dec. 24, while subscription to new shares will close on Dec. 29.
Rights holders are allowed to exercise their right to subscribe to new shares (in full or in part) up to the number of right issues available in their portfolios. Trading in rights and subscriptions to new shares for registered shareholders and new investors will be in accordance with the prospectus, according to a statement to Tadawul.
The remaining and fractional shares, if any, will be offered to institutional investors, according to the prospectus. Alawwal Capital will underwrite the rights issue if the entire subscription is not fully covered, the statement added.
Investors not willing to subscribe must sell their rights during the specified trading period to avoid the decline in the value of their investment portfolios as a result of not benefiting from their rights, whether by way of sale or subscription, the company said.
Salama shareholders approved lately the board’s recommendation to increase capital by SAR 100 million rights issue (one share for each two existing shares).
Capital Increase Details
Current capital
SAR 200 mln
CurrentNumber of shares
20 mln
Capital increase (%)
50%
Capital after increase
SAR 300 mln
Number of shares after increase
30 mln
Reason
Fulfilling the minimum requirements of the Insurance Authority
Record Date
Dec. 11, 2024, for those registered with Edaa on the second trading day following the general meeting date.
Rights Issue Details
Offered Shares
10 mln
Offer Price
SAR 10
Issue Size
SAR 100 mln
Eligibility ratio
Each shareholder will be granted 1 right for every two shares held
Rights Issue Proceeds
Banks Deposits
SAR 87.5 mln
Deposit’s Increase
SAR 7.5 mln
Offering fees and costs
SAR 5 mln
