Saudi Enaya hires financial advisor for capital cut

19/01/2020 Argaam

 

Saudi Enaya Cooperative Insurance Co. hired Aljazira Capital as financial advisor for its planned capital cut, the insurer in a statement to Tadawul on Sunday.

 

Saudi Enaya’s board of directors recommended a 50% capital reduction to SAR 150 million from SAR 300 million to offset accumulated losses, Argaam reported.

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