Al Ahliyah IPO oversubscribed.

Vision IPO Closes Today

Al Ahliyah Insurance closed its IPO  to convert into public joint stock company  on August 2^nd . The subscription was  3 times the number of the offered shares. Vision Insurance’s subscription will close at the business end today 7^th August 2017.

The Capital Market Authority  had approved in June the prospectuses of Al Ahliyah and Vision which shows t each company has offered 25 million shares at an issue price of 162 Baisas per share for  Vision during the period from 9 July to 7 August. Al Ahaliyah’s share was offered at 300 Baisas during the period from July 4^th to August 2^nd 2017.

The Chief Executive Officer of CMA had earlier announced the offering of the shares of five  insurance companies at the end of the  three year  grace period granted under Royal Decree No. 39/2014   in accordance with specific  time plan agreed with the boards of the directors of the companies to be listed.