Malath Cooperative Insurance Co. said that its SAR 380 million rights issue will begin on Oct. 9, 2017.
The subscription period will continue until Oct. 19, 2017, the insurer said in bourse statement.
Last week, the extra ordinary general assembly of Malath Cooperative Insurance Co. had approved raising the company’s capital by 316.7 percent to SAR 500 million from SAR 120 million through a rights issue of SAR 380 million, Argaam reported earlier.
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