Riyadh - Mubasher: Amana Cooperative Insurance Company has appointed Audi Capital as its financial advisor to manage the company’s proposed capital reduction process.

The appointment, effective 8 September 2026, follows a previous board recommendation disclosed on 11 August to restructure the company's capital base.

The proposed plan involves reducing the nominal value of the company's shares from SAR 10 to SAR 7 per share.

Under the current proposal, the total number of outstanding shares will remain unchanged at 43 million units. The advisor will be responsible for overseeing all regulatory procedures and filings required to implement the reduction.

Amana Cooperative Insurance stated that it will provide further updates once the formal capital reduction application is submitted to the Capital Market Authority (CMA).

The completion of the transaction remains subject to obtaining the necessary approvals from the relevant regulatory authorities and the company's extraordinary general assembly.