CMA approves Anaam Holding’s SAR 90 mln rights issue

The Capital Market Authority (CMA) approved today, Sept. 22, Anaam International Holding Group's request to increase capital through a SAR 90 million rights issue.

The increase will be limited to shareholders registered at the Security Depository Center (Edaa) as of the closing of the second trading day after the extraordinary general assembly meeting (EGM), which will be determined by the company’s board of directors at a later date.

The insurer will determine the offering size and price after market closing on the same day the EGM is to be held.

The rights issue prospectus will be issued at a later date, the statement said.

In February, the company’s board of directors amended its capital hike recommendation to SAR 90 million from SAR 75 million through a rights issue to finance future plans, projects and expand various activities.