Arabia Insurance’s BOD recommends SAR 150 million capital raise through a rights issue

08/06/2014 Argaam

Arabia Insurance Cooperative Company’s Board has decided to amend its SAR 100 million capital raise recommendation to SAR 150 million through a rights issue after obtaining the regulatory authorities’ and extraordinary GA’s approvals.

 

The capital raise is intended to support the company’s growth, expansions and required solvency margin; the company said in its filing to Tadawul today.

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