Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company (Enaya) on Wednesday announced obtaining Saudi Arabian Monetary Authority’s (SAMA) approval to raise its capital to SAR 300 million, from SAR 100 million through the issuance of right shares.

SAMA’s nod is conditional upon completing other regulatory authorities’ approvals, according to Enaya's statement to the Saudi Stock Exchange (Tadawul).

The Saudi company said it would announce any further updates regarding the capital hike.

By 10:12 am Enaya’s stock rose 3.34% to SAR 24.74.