Logo ofWalaa Cooperative Insurance Co.
Walaa Cooperative Insurance Co.announced today, Dec. 15, 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
42.50 mln
Number of Subscribed Shares
38.47 mln
Value of Subscribed Shares
SAR 423.16 mln
Coverage Ratio (%)
90.51%
Number of Rump Shares
4.03 mln
Date of Rump Offering
Dec. 17-18, 2024
Rump shares will be offered at the minimum offering price to a number of institutional investors, who will submit bids to purchase the shares, according to a Tadawul statement.
These shares will be allocated to institutional investors based on the highest to lowest bids, provided they are not less than the offering price. The shares will be allocated proportionately to institutional investors who submit the same bid.
If institutional investors do not subscribe to all the rump shares, they will be allocated to the underwriter, Albilad Investment, which will buy them at the offering price.
Logo ofWalaa Cooperative Insurance Co.
Walaa Cooperative Insurance Co.announced today, Dec. 15, 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
42.50 mln
Number of Subscribed Shares
38.47 mln
Value of Subscribed Shares
SAR 423.16 mln
Coverage Ratio (%)
90.51%
Number of Rump Shares
4.03 mln
Date of Rump Offering
Dec. 17-18, 2024
Rump shares will be offered at the minimum offering price to a number of institutional investors, who will submit bids to purchase the shares, according to a Tadawul statement.
These shares will be allocated to institutional investors based on the highest to lowest bids, provided they are not less than the offering price. The shares will be allocated proportionately to institutional investors who submit the same bid.
If institutional investors do not subscribe to all the rump shares, they will be allocated to the underwriter, Albilad Investment, which will buy them at the offering price.
