United Cooperative Assurance Co. gets initial nod for capital increase

24/04/2014 Tadawul

United Cooperative Assurance Company said it received on Thursday an initial regulatory approval of its planned SAR 140 million capital increase.

The company plans to increase its capital by a rights issue, and said the final approval of Saudi Arabian Monetary Agency, the kingdom’s central bank, is pending certain procedures to be completed within four months.

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