Walaa Insurance announces BOD recommendation on capital increase

Walaa Cooperative Insurance Co. announced on Monday the amendment to The Board of Directors’ recommendation to the Extraordinary General Assembly to increase the capital by the offering of Rights Issue.

The Company explained in a Statement on Tadawul that the offering will change the amount to SAR (467.5) million instead of SAR (425) million by offering a total of 42.5 million ordinary shares with a nominal value of SAR (10) per share, with an offer price of SAR (11) per share.