ACIG announces the use of September 2012 IPO proceeds

08/01/2014 Argaam

Allied Cooperative Insurance Group (ACIG) announced today on Tadawul the updates regarding the use of September 2012 IPO proceeds as follows:

 

Amount in SAR

Description

100m

Gross IPO proceeds

5.7m

IPO fees and related expenses

10m

Statutory deposit

84.3m

Remaining amount held to meet required solvency margin and required statutory reserve

 

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