MedGulf’s rights issue closes today
30/09/2018
Argaam
The Mediterranean and Gulf Insurance and Reinsurance Co.’s (MedGulf) rights issue will end today, Sept. 30.
The insurer launched the rights issue on Sept. 17 to double its capital to SAR 800 million, Argaam reported.
The rights issue was extended until Sept. 25, with the subscription period running until Sept. 30, as the Saudi bourse was closed on Sep. 23 and 24 on celebrating the National Day holiday.
MedGulf’s rights were originally tradable until Sept. 24, and the subscription period was set to close on Sept. 27.
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