Gulf Union hires Saudi Hollandi Cap to manage rights issue

24/05/2016 Argaam

Gulf Union Cooperative Insurance Co. has assigned Saudi Hollandi Capital on Tuesday as financial advisor to manage its rights issue, the company said in a statement on Saudi bourse.

 

The company didn’t give any details of the size and timing of the rights issue.

 

In April, the insurer said it had decided to withdraw its capital reduction request submitted earlier to the Capital Market Authority due to the current market conditions. 

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