Today, Sunday, Amana Cooperative Insurance Company, Amana Insurance, announced the results of trading priority rights and subscribing to new shares, as well as details of the process of selling unsubscribed shares.
Amana Insurance said in a statement on the Saudi Tadawul that about 21.57 million shares were subscribed, out of the 30 million new shares offered.
It added that the value of the subscribed shares is about 215.73 million riyals.
The coverage ratio of the total new offered shares reached 71.91%.
The remaining shares will be offered to a number of institutional investors, provided that these investment institutions submit offers to purchase the remaining shares.
The remaining shares will also be allocated to the investment institutions with the highest offer, then the lowest and then the lowest, provided that it is not less than the offer price, provided that the shares are allocated proportionally to the investment institutions that submit the same offer.
In the event that investment institutions do not subscribe to all the remaining shares, the remainder of these shares will be allocated to the underwriter, who will purchase them at the offering price.
The remaining offering period for the unsubscribed shares, amounting to about 8.427 million shares, starts from ten in the morning on Tuesday, June 21, 2022, and continues until five in the evening on Wednesday, June 22, 2022.
