Malath Cooperative Insurance Co. will begin its rights issue today, Oct. 9, 2017, the insurer said in bourse statement.

 

The rights issue will take place under the Saudi Stock Exchange’s (Tadawul) new mechanism for tradable rights, the bourse said.

 

The trading period shall end on Monday Oct. 16, while subscription will continue until Thursday, Oct. 19, 2017.

 

Malath is offering SAR 380 million in rights issue, raising the company’s capital by 316.7 percent to SAR 500 million from SAR 120 million.

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