Saudi Enaya shareholders to vote on capital hike or liquidation on Aug. 21

Logo of Saudi Enaya Cooperative Insurance

Saudi Enaya Cooperaurtive Insance Co.’s shareholders will vote on capital hike procedures and obtaining approvals from the relevant authorities, during the extraordinary general meeting (EGM) to be held on August 21, according to a bourse statement. 

In case of disapproving the capital increase, shareholders will vote on initiating the liquidation procedures after obtaining approvals from the relevant authorities. 

In early March, the insurer announced that its accumulated losses reached SAR 91.7 million, or 61.1% of capital, according to data available with Argaam.