Logo ofSalama Cooperative Insurance Co.
Salama Cooperative Insurance Co. announced today, Dec. 30, the results of the rights issue trading and new shares subscription, as well as the details of the rump offering,as follows: 
Offering Details
Number of Offered Shares
10 mln
Number of Subscribed Shares
8.67 mln
Value of Subscribed Shares
SAR 86.86 mln
Coverage Ratio (%)
86.86%
Number of Rump Shares
1.31 mln
Date of Rump Offering
Jan. 1-2, 2025
Moreover, they will be allocated to institutional investors of the highest to lowest bid (provided they are not less than the offer price). The shares will be allocated proportionately to institutional investors who make the same offer.
If institutional investors have not subscribed to all the rump shares, they will be allocated to the underwriter, Albilad Investment, which will buy them at the offering price.
According to data compiled by Argaam, Salama offered 10 million ordinary shares at SAR 10 apiece, through a right issue worth SAR 100 million.
The subscription period started on Dec. 17 to increase the company’s capital by 50% from SAR 200 million to SAR 300 million.
The capital hike supports the insurer’s future plans, enhance financial solvency margin, boost statutory reserve, and fulfill the requirements of capital.
Logo ofSalama Cooperative Insurance Co.
Salama Cooperative Insurance Co. announced today, Dec. 30, the results of the rights issue trading and new shares subscription, as well as the details of the rump offering,as follows:
Offering Details
Number of Offered Shares
10 mln
Number of Subscribed Shares
8.67 mln
Value of Subscribed Shares
SAR 86.86 mln
Coverage Ratio (%)
86.86%
Number of Rump Shares
1.31 mln
Date of Rump Offering
Jan. 1-2, 2025
Moreover, they will be allocated to institutional investors of the highest to lowest bid (provided they are not less than the offer price). The shares will be allocated proportionately to institutional investors who make the same offer.
If institutional investors have not subscribed to all the rump shares, they will be allocated to the underwriter, Albilad Investment, which will buy them at the offering price.
According to data compiled by Argaam, Salama offered 10 million ordinary shares at SAR 10 apiece, through a right issue worth SAR 100 million.
The subscription period started on Dec. 17 to increase the company’s capital by 50% from SAR 200 million to SAR 300 million.
The capital hike supports the insurer’s future plans, enhance financial solvency margin, boost statutory reserve, and fulfill the requirements of capital.
