CMA approves UCA’s capital cut

03/05/2018 Argaam

Saudi Arabia’s Capital Market Authority (CMA) has approved United Cooperative Assurance Co.’s (UCA) request to reduce capital to SAR 400 million from SAR 490 million through.

 

The CMA nod is conditional on the company’s extraordinary general assembly approval and completion of necessary procedures, the market regulator said in a statement.

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