Riyadh – Mubasher: The extraordinary general meeting of MetLife AIG ANB Cooperative Insurance gave a nod to the board's recommendation on raising the company's capital to SAR 350 million from SAR 175 million, through the issuance of priority rights shares worth SAR 175 million.

The increase will be effected through issuing 17.5 million ordinary shares at SAR 10 par value each, thus raising the number of total shares by 100% to 35 million.

The company said the capital hike is aimed to fulfill the minimum limit of financial solvency.