Wataniya gets CMA nod on capital hike

19/06/2016 Argaam

Saudi Arabia’s market regulator, the Capital Market Authority (CMA), has approved Wataniya Insurance Co.’s request to increase its capital by SAR 100 million through a rights issue.

 

The price and the number of shares offered will be decided by the company at the next extraordinary general meeting, the CMA said in a statement on Sunday.  A prospectus will be issued later on.

 

Wataniya’s request won the Saudi Arabian Monetary Agency’s, the kingdom’s insurance market regulator, approval last year. 

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