Tokyo Marine Saudi Arabia announces the CMA resolution approving 6m shares IPO

27/02/2014 Tadawul

Al Inmaa bank announced today the CMA resolution approving the IPO of 6m shares of Tokyo Marine Saudi Arabia Co., representing 30% of its SAR 200m capital, the company said on “Tadawul” filling.

 

Tokyo Marine is an under establishment co-operative insurance company in which Al Inmaa bank and Tokyo Marine& Nashido fire insurance own 28.75% of its shares each.

 

The remaining shares representing 12.05% of its capital are owned 5% by SABIC, 5% by the Saudi foundation for trade and distribution, 2% by Abullah AlRomaizan Business man and .05% by Saudi Jayan LLC.

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