Wataniya Insurance Submits Application File to CMA to Increase Capital by Offering Right Issues

Wataniya Insurance Company announced the submission of the capital increase request to the CMA on Monday 22/11/2021. Arab National Investment Company (ANB Invest) has been appointed as financial advisor in relation to the offering.

This comes with reference to Wataniya Insurance Company announcement on 16/09/2021, relating to the board recommendation to increase the Company’s share capital by way of Rights Issue, subject to the approval of the relevant official authorities and the extraordinary general assembly.

And also comes with reference to the Company’s announcement on 07/11/2021 regarding the Saudi Central Bank’s non-objection to increase the Company’s capital subject to compliance with all regulatory requirements.