Mubasher TV
Contact Us Advertising   العربية

Arabia Insurance invests SAR 50m from rights issue proceeds in bonds

Arabia Insurance invests SAR 50m from rights issue proceeds in bonds
Photo Archive
AICC
8160
-0.79% 12.50 -0.10

Riyadh-Mubasher: Arabia Insurance said it invested SAR 50 million from its rights issue proceeds reaching SAR 200 million in long-term bonds and investments, according to a bourse statement posted on Tuesday.

The insurance firm has also added SAR 20 million to the statutory deposit consequent to the capital increase. In addition, it used SAR 172 million to fulfill the financial solvency margin requirements.

The company also invested SAR 100 million in short-term banking deposits and investment funds.