Allianz SF appoints financial adviser for rights issue

16/07/2018 Argaam

 

Allianz Saudi Fransi Cooperative Insurance Co.’s (Allianz SF) appointed on July 15 the Arab National Investment Company (ANB Invest) as financial advisor on its rights issue, the insurer said in a statement to Tadawul today.

 

Last month, Allianz SF’s board of directors recommended a capital hike through a SAR 400 million rights issue, Argaam previously reported.

 

The capital hike aims to support business expansions.

 

The process is still pending approvals from the general assembly and regulator.

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