Riyadh – Mubasher: Saudi Enaya Cooperative Insurance on Sunday announced that its accumulated losses fell to 15.2% of its capital as of 19 January.

The Saudi firm’s accumulated losses amounted to SAR 45.67 million of its total capital amounting to SAR 300 million, according to a statement to the Saudi Stock Exchange (Tadawul).

The drop in accumulated losses was attributed to the increase in the company’s share capital through the issuance of right shares amounting to SAR 200 million in January.

In December 2018, Enaya announced that its rights issue was 77.79% subscribed.