Wataniya Insurance appoints ANB Invest as financial advisor to manage rights issue

05/10/2021 Argaam

Logo of Wataniya Insurance Co.

Wataniya Insurance Co. appointed, today, Oct. 5, ANB Invest as financial advisor to manage its rights issue, the insurer said in a bourse filing.

 

The company will announce developments in due course, including submitting the rights issue request to the Capital Market Authority (CMA).

 

In September, the board of directors approved increasing capital through SAR 200 million rights issue. The capital hike aims to support the insurer’s future plans and solvency margins position, Argaam earlier reported.

 

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