Malath shares deposited into investor accounts

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.