Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved the request made by Allied Cooperative Insurance Group Company to reduce its capital from SAR 200 million to SAR 141 million.

The capital reduction will be through cutting the number of shares from 20 million shares to 14.1 million shares, according to a statement to the Saudi Stock Exchange (Tadawul) on Monday.

The decision is subject to the company’s next extraordinary general assembly meeting (EGM).