Enaya submits to CMA application file to increase capital to SR230 mln through rights issue

Saudi Enaya Cooperative Insurance Company announced on Wednesday that it has submitted on Tuesday 11/10/2022 the application file to increase the company’s capital to SR230 million by offering priority rights shares to the Capital Market Authority (CMA) for approval.
The capital increase is subject to the relevant regulatory approvals, including the approval of the company’s Extraordinary General Assembly.
With reference to the announcement of Saudi Enaya Cooperative Insurance Company on the website of the Saudi Stock Exchange (Tadawul) dated 18/08/2022 recommending the Board of Directors to reduce the company’s capital and then increase the capital after the reduction.
With reference to Enaya Saudi Cooperative Insurance Company’s announcement on the website of the Saudi Stock Exchange (Tadawul) dated 09/10/2022 that it has received the letter of the Saudi Central Bank dated 07/10/2022 containing the approval of the Saudi Central Bank to increase the company’s capital from SR100 million. To 230 million Saudi riyals through the offering of priority rights shares, the Central Bank of Saudi Arabia stipulated that the company meets all the requirements of other official Entities, noting that the approval of the Central Bank is valid for six months from its date.