Malath issues prospectus for SAR 380 mln capital hike

12/09/2017 Argaam

Malath Cooperative Insurance Co. has issued the prospectus for its upcoming SAR 380 million capital increase through a rights issue.

 

Shareholders of record on the second day after the extraordinary general assembly meeting date will be eligible to participate in the offering, the company said on Tuesday.

 

A total of 38 million shares will be offered at SAR 10 each.

 

In July, the Saudi market regulator, the Capital Market Authority (CMA), approved a request from the insurer to increase its capital by SAR 380 million through a rights issue.

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