Amana Insurance gets CMA’s nod for SAR 300 mln rights issue to increase capital

23/05/2022 Argaam

Logo of Amana Cooperative Insurance Co.

The Capital Market Authority (CMA) approved an application from Amana Cooperative Insurance Co. to increase its capital by way of SAR 300 million rights offering.

 

Shareholders registered with the Securities Depository Center (Edaa) by the close of the second trading day after the extraordinary general assembly meeting (EGM) – to be determined by the board later – will be eligible for subscription, the market regulator said in a statement today, May 23.

 

In January, Amana’s board of directors recommended a capital hike through a SAR 300 million rights issue, Argaam earlier reported.

 

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