ACIG appoints Alistithmar Capital as financial advisor for capital raise

09:30 AM (Mecca time) Argaam
Logo ofAllied Cooperative Insurance Group (ACIG)

Logo of Allied Cooperative Insurance Group (ACIG) 

Allied Cooperative Insurance Group (ACIG) announced the appointment of Alistithmar Capital as financial advisor for a potential capital increase.
 

In a statement to Tadawul, the insurer said it will announce the submission of the capital increase application file to the Capital Market Authority (CMA) for approval, as well as any future developments in this regard.

 

According to data available on Argaam, ACIG ‘s board of directors recommended in July raising the company’s capital through a share offering worth SAR 9 million, while suspending preemptive rights.

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