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CMA approves Amana’s capital hike

CMA approves Amana’s capital hike
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AMANA INSURANCE
8310
-0.76% 10.50 -0.08

Riyadh - Mubasher: The Saudi Capital Market Authority (CMA) has approved Amana Cooperative Insurance Company’s request to increase its capital through rights issue valued at SAR 100 million.

The increase in capital will be limited to the shareholders who are registered in the shareholders registry at the Security Depository Center as of the closing of the second trading day after the extraordinary general assembly meeting, which will be determined by the Company’s board of directors at a later date.

The offering price and the number of shares offered for subscription will be determined by the Company after market closing of the same day in which the extraordinary general assembly meeting is to be held, the CMA said in an official statement on Tuesday.