Walaa Insurance withdraws its rights issue request for some adjustments

27/11/2014 Argaam

Saudi united Cooperative Insurance Company (Walaa) withdrew its capital raise request submitted earlier to The Capital Market Authority (CMA) for necessary adjustments.
 

The request will be resubmitted to The CMA after performing the adjustments, the company said in a filing to Tadawul today.
 

According to Argaam; Walaa Insurance obtained the Saudi Arabian Monetary Agency’s (SAMA) preliminary approval for a capital raise of SAR 200m through a rights issue in April 2014.

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