Riyadh-Mubasher: Al Rajhi Takaful will start the second phase of its rights issue on Sunday, which will continue until Tuesday.

The holders of priority rights, whether shareholders of record or those who bought the priority rights during the trading period, can subscribe to the new shares.

The priority rights will not be traded during this phase.

The insurer aims to increase its capital by 100% from SAR 200 million to SAR 400 million, through offering rights issue shares at SAR 10 each.

The capital increase is to boost the company's solvency margin and finance its future plans.