Published: November 22, 2011
Islamic insurance company hopes to raise US$21mn.
AlAhli Takaful Company, a Saudi Arabian shariah-compliant insurance company, plans to raise SAR80mn (US$21mn) through a rights issue that will close in early December.
The company has been listed on the Tadawul, the Saudi Arabian Stock Exchange, since 2007.
Al Rajhi Capital is underwriting the issue. Other banks involved in the deal are Al Rajhi Bank, Riyad Bank, Samba Financial Group, NCB, and Jadwa Investment.
AlAhli was advised by Aldukheil Financial Group and law firm King & Spalding.