Saudi Allianz SF rights issue records 538.78% coverage

A total of 2.495 million shares were allocated


Riyadh - Allianz Saudi Fransi Cooperative Insurance Company (Allianz SF) announced that its rights issue registered a coverage ratio of 538.78% at the end of the reoffering period with 2.495 million shares allocated.

The total amount realised from unsubscribed shares is SAR 36.74 million, with the average selling price for every sold share reaching SAR 14.72, according to a bourse filing on Sunday.

Compensations for rights holders and fractions amounted to SAR 11.78 million, the firm said, noting that the shares will be listed in the shareholders’ accounts on Thursday, 16 July.

Last week, the insurer said that a total of 37.5 million shares of the newly offered shares were subscribed at a value of SAR 375.04 million.

Source: Mubasher

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