Riyadh – Mubasher: The Saudi Capital Markets Authority (CMA) has approved Allianz Saudi Fransi Cooperative Insurance Company’s request to increase its capital through a SAR 400 million rights issue.

The increase will be limited to shareholders, registered at the Security Depository Center as of the closing of the second trading day after the company’s extraordinary general assembly meeting (EGM).

The date of the next EGM will be determined by the company’s board of directors at a later date, according to a company statement to the Saudi Stock Exchange (Tadawul).

Moreover, the offering price and the number of shares offered for subscription will be determined by the company after the market closing of the same day in which the EGM will be held.

 

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.