‎“ACIG” BOD recommends increasing capital through offering ‎priority shares for SR209 million ‎

Allied Cooperative Insurance Group announced the Board of Directors’ recommendation to increase capital by offering priority rights shares for 209 million riyals, to support the expansion of the company’s activity and enhance the solvency margin

The company said in a statement today on “Tadawul” that the rights will go to the shareholders who own the shares on the day of the extraordinary general assembly, which decided to increase the capital by offering priority rights shares, and whose names appear in the register of the issuer’s shareholders at the deposit center at the end of the second trading day. The meeting date follows, indicating that an announcement will be made later when a financial advisor is appointed for the offering, as well as when the capital increase application file is submitted to the Authority and when there are any future developments in this regard.