Wataniya Insurance to send capital hike request to cbank by Oct. 1

01/09/2015 Argaam

Wataniya Insurance Co. is preparing the request relating to its proposed capital hike to send to the Saudi Arabian Monetary Agency, the kingdom’s central bank, by October 1, it said in a statement to Tadawul.

 

In April, Wataniya’s ​board of directors  approved  raising its ​capital through a SAR 100 million​ rights issue.


The raise is intended to support the insurer’s margin and finance its future activities.

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