Enaya names Wasatah Capital as financial advisor on rights issue

31/12/2023 Argaam
Logo ofSaudi Enaya Cooperative Insurance Co.

Logo of Saudi Enaya Cooperative Insurance Co. 

Saudi Enaya Cooperative Insurance Co. appointed Wasatah Capital as financial advisor on its rights issue subscription, the company said in a statement to Tadawul today, Dec. 31. 

 

The insurer said it will announce the submission of the capital increase application to the Capital Market Authority (CMA) and any other material updates. 

 

Enaya’s board of directors recommended, on Dec. 10, increasing Enaya’s capital to SAR 380 million through a SAR 150 million rights issue. 

 

Shareholders recently rejected the merger proposal by United Cooperative Insurance Co. (UCA), Argaam earlier reported.

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