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Islamic Finance Briefing - Categorized | Capital Market (Equity, Mutual Funds), Insurance (Takaful) more

Buruj Coop Insurance IPO 702pct subscribed

Posted on 09 October 2009

From Tradearabia.com: Buruj Cooperative Insurance’s initial public offering (IPO) has been subscribed by 702 per cent of total offered shares, since it was launched on October 3. The offer closes tomorrow (October 9).

In the first four days, the value of subscriptions amounted to SR365.17 million with the number of subscribers reaching 127,936, revealed Marcus Andrade, the chief of Al Rajhi Capital, who announced the IPO subscription results as the lead manager for the issue………………..Full Article: Source

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