Insurance Authority approves Saudi Enaya’s request for SAR 150M rights issue

20/03/2024 Argaam

Insurance Authority approves Saudi Enaya’s request for SAR 150M rights issue

Logo of Saudi Enaya Cooperative Insurance Co.

Saudi Enaya Cooperative Insurance Co. received on March 19 the Insurance Authority’s approval to increase its capital by SAR 150 million to SAR 380 million, through a rights shares offer, the insurer said in a statement to Tadawul.

 

For More IPOs

 

In December 2023, Saudi Enaya’s board of directors recommended increasing the company’s capital with the aim to comply with the minimum capital requirements for insurance companies, in addition to supporting plans and solvency margins, Argaam earlier reported.

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