Saudi Enaya appoints a financial advisor to reduce capital, then ‎increase through subscription to right issues

With reference to the announcement by Saudi Enaya Insurance Company (Enaya) on 18/08/2022, corresponding to 20/01/1444 H, about the Board of Directors’ recommendation to reduce company’s capital and then increase company’s capital by Rights issue. The company is pleased to announce the appointment of the financial advisor Al Wasatah Al Maliah Company (WASATAH CAPITAL) to reduce the company’s capital by 50,000,000 Saudi riyals to amortize a part of accumulated losses so the company’s capital after decrease becomes 100,000,000 Saudi riyals, and then increase the capital of the company after the reduction through a Rights issue of 130,000,000 Saudi riyals so the company’s capital after the increase becomes 230,000,000 Saudi riyals.

Additional Information:

Announcement will be made later when submitting the capital decrease & capital increase application file to the Capital Market Authority and when there are any future developments in this regard.