Logo ofSalama Cooperative Insurance Co.
Salama Cooperative Insurance Co.’s rightssubscription period ends today, Dec. 29. 
The subscription period started on Dec. 17 to increase the company’s capital by 50% from SAR 200 million to SAR 300 million.
Salama offered 10 million ordinary shares at SAR 10 apiece, through a right issue worth SAR 100 million.
The rights trading period ended on Dec. 24.
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
Rights Issue Details
Offered Shares
10 mln
Offer Price
SAR 10
Issue Size
SAR 100 mln
EligibilityRatio
Each shareholder will begranted one rightfor every two shares held
Record Date
Dec. 11, 2024 (Shareholders registered with Edaaby the close of trading on the second dayfollowing the general meeting date)
Trading Period
Dec. 17-24
SubscriptionPeriod
Dec. 17-29
Reason
Support the insurer’s future plans, enhance financial solvency margin, boost statutory reserve, and fulfill the requirements of capital
Rights Issue Proceeds
Banks Deposits
SAR 87.5 mln
Deposit Increase
SAR 7.5 mln
Offering Fees
SAR 5 mln
Additional Information
Financial Advisor, Lead Manager Underwriter
Alawwal Capital
Co-Underwriter
Al-Nefaie Investment
Logo ofSalama Cooperative Insurance Co.
Salama Cooperative Insurance Co.’s rightssubscription period ends today, Dec. 29.
The subscription period started on Dec. 17 to increase the company’s capital by 50% from SAR 200 million to SAR 300 million.
Salama offered 10 million ordinary shares at SAR 10 apiece, through a right issue worth SAR 100 million.
The rights trading period ended on Dec. 24.
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
Rights Issue Details
Offered Shares
10 mln
Offer Price
SAR 10
Issue Size
SAR 100 mln
EligibilityRatio
Each shareholder will begranted one rightfor every two shares held
Record Date
Dec. 11, 2024 (Shareholders registered with Edaaby the close of trading on the second dayfollowing the general meeting date)
Trading Period
Dec. 17-24
SubscriptionPeriod
Dec. 17-29
Reason
Support the insurer’s future plans, enhance financial solvency margin, boost statutory reserve, and fulfill the requirements of capital
Rights Issue Proceeds
Banks Deposits
SAR 87.5 mln
Deposit Increase
SAR 7.5 mln
Offering Fees
SAR 5 mln
Additional Information
Financial Advisor, Lead Manager Underwriter
Alawwal Capital
Co-Underwriter
Al-Nefaie Investment
