Salama hires Alawwal Capital to advise on capital hike via rights issue

21/03/2024 Argaam
Logo ofSalama Cooperative Insurance Co.

Logo of  Salama Cooperative Insurance Co.

Salama Cooperative Insurance Co. appointed Alawwal Capital as a financial advisor for its capital increase via a SAR 100 million rights issue, the company said in a statement to Tadawul.

 

An announcement will be made later when submitting capital increase application files to the Capital Market Authority, and when there are any further developments in this regard, the company added.

 

For More IPOs

 

Salama's board of directors recommended, on March 18, to increase the company’s capital through a SAR 100 million rights issue to SAR 300 million, data available to Argaam showed.

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