UCA's BOD recommends SAR 210 million capital raise through a rights issue

United Cooperative Assurance Company’s Board decided amending its SAR 140 million capital raise recommendation to SAR 210 million through a rights issue, after meeting SAMA’s requirements and obtaining regulatory authorities’ and extraordinary GA’s approvals.

The issuance price and number of shares to be issued will be determined after the extraordinary GA meeting.

The capital raise is intended to support the company’s future growth and strengthen and improve the solvency margin requirements.