UCA hires Alinma Investment as financial advisor on capital hike

19/05/2024 Argaam
Logo ofUnited Cooperative Assurance Co. (UCA)

Logo of United Cooperative Assurance Co. (UCA) 

United Cooperative Assurance Co. (UCA) appointed Alinma Investment as financial advisor for its planned capital increase via a SAR 300 million rights issue, the company said in a statement to Tadawul today, May 19.

 

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

 

For More IPOs

 

In December 2023, UCA’s board of directors recommended increasing the company’s capital to SAR 700 millionl through a SAR 300 million rights issue. This is to support future plans, expansions, and financial solvency margin, data available to Argaam showed.

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