Aug 22 2009 |
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Few days remaining to the end of SABB Takaful's Rights Issue subscription period
Riyadh, Saudi Arabia, 22 August 2009: The rights issue subscription period of SABB Takaful commenced on Saturday 15 August 2009, and will end on Wednesday 26 August 2009.Mr. Mohammed Abdulaziz Aldukheil, Executive Vice President of AFG said, "The subscription process is going smoothly with shareholders subscribing through all the subscription channels provided by the receiving banks".
During the offering period, eligible shareholders may submit their applications to subscribe for rights issue shares either through a branch of the receiving banks, tele-banking services section, automated teller machines (ATMs) or the internet banking service of any of the receiving banks providing such services.
The rights issue is open to eligible shareholders of SABB Takaful .
-Ends-
SABB Takaful
Company - www.sabbtakaful.com
SABB Takaful
is a leading provider of Islamic insurance products in Saudi Arabia. It began trading in July 2007 and was the first Takaful company in the Kingdom to be listed on the Tadawul, the Saudi stock exchange, and the first in the HSBC Group to be publicly quoted.
SABB Takaful offers a comprehensive range of Takaful plans to meet individual and corporate customers' protection needs in the Kingdom including Shariah-compliant protection and savings schemes for individuals and families as well as property and marine plans for commercial customers.
Capitalised at SAR 100-million, SABB Takaful is 32.5% owned by SABB , one of Saudi Arabia's largest financial services groups, and 32.5% by subsidiaries of the HSBC Group, with the balance owned by the public through an Initial Public Offering.
© Press Release 2009
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