AICC gets SAMA nod on capital hike through rights issue

24/04/2019 Argaam

Saudi Arabian Monetary Authority (SAMA) on Tuesday approved Arabia Insurance Cooperative Co.’s (AICC) request to increase its capital to SAR 530 million through a SAR 265 million rights issue.

 

The capital hike is pending fulfilling all other regulatory requirements. 

 

In December, Arabia Insurance Cooperative Co.’s (AICC) board of directors recommended a capital hike through a SAR 265 million rights issue to support the company’s expansions, Argaam reported earlier.

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