Saudi Arabian Cooperative Insurance Co. – SAICO announced it submitted a request today, Sunday, August 31, 2014, a request to the Capital Market Authority (CMA) to increase its capital. The company’s board had recommended in June going ahead with the procedures of increasing capital through issuing rights issue shares worth SAR 150 million. The issue price and number of offered shares will be defined after obtaining the approval of competent authorities. The subscription will be limited to shareholders of record till the close of trading on the extraordinary general meeting date.