The Securities Depository Center Company (Edaa) deposited on Tuesday new shares of Malath Cooperative Insurance Co. into the accounts of investors, Edaa said in a statement to Tadawul.
On Sunday, Malath shareholders approved raising the company’s capital to SAR 500 million from SAR 120 million through a rights issue of SAR 380 million.
The insurer plans to offer 38 million shares at SAR 10 each, to achieve the required solvency margin and fund its future activities.
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