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Al Rajhi Company for Cooperative Insurance

Saudi insurance companies incl takaful operators going IPO

Tue, 2009-04-21 08:47 — IslamicFinance.de

Four Saudi insurance firms launched on Saturday initial public offerings to raise a total SAR 260 mn. Axa Cooperative Insurance Co and Wiqaya Takaful Insurance and Re-insurance Co will offer a 40 % stake, or 8 mn shares each. Ace Arabia Cooperative Insurance Co will also offer a 40 % stake equivalent to 4 mn shares, while Al Rajhi Company for Cooperative Insurance will offer 30 %, or 6 mn shares.

Source: 

http://www.arabianbusiness.com/552939-saudi-insurers-seek-693m-in-ipos

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