Riyadh – Gulf General Cooperative Insurance Co. announced the appointment of FALCOM Financial Services as a financial advisor to manage the subscription to the company’s capital raise through a rights issue.
Any further developments including submitting the capital increase request to the Saudi Capital Market Authority (CMA) will be disclosed, the company said in a statement to the Saudi Stock Exchange (Tadawul) on Sunday.
In April, the company’s board of directors recommended raising the company’s capital by SAR 300 million through a rights issue.
In July, Gulf General Cooperative Insurance Co. received the Saudi Arabian Monetary Authority’s (SAMA) approval on the capital raise.
All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).