Aug 25 2009 |
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Wednesday is the Last Day of the offer period for SABB Takaful
Riyadh, Saudi Arabia, 25 August 2009: Aldukheil Financial Group, Financial Advisor and Lead Manager for SABB Takaful , announces that as of Monday 24 August, subscription to its rights issue is running smoothly at all the receiving Banks.Eligible shareholders may continue to subscribe until Wednesday 26 August 2009. The announcement of the final number of shares allocated to each eligible shareholder will be made no later than 1 September 2009.
The offering is open to all SABB Takaful registered shareholders as of the close of trading on the EGM date 8 August 2009. A minimum of 12 shares will be allocated for every 5 shares held by shareholders on the eligibility date
During the offering period, eligible shareholders may submit their applications to subscribe for rights issue shares either through a branch of the receiving banks or tele-banking services section or automated teller machines (ATMs) or the internet banking service of any of the receiving banks providing such services.
Receiving banks for the rights issue are The Saudi British Bank (SABB ), Al Rajhi Bank , The National Commercial Bank ( NCB or otherwise known as Al Ahli Bank ), Bank Al Jazira , and Samba Bank .
The prospectus for the rights issue is available on the websites of the Capital Market Authority (www.cma.org.sa), SABB Takaful (www.sabbtakaful.com) and Aldukheil Financial Group (www.aldukheil.com.sa), Financial Advisor and Lead Manager.
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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.
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