Logo ofAllied Cooperative Insurance Group (ACIG)
In a statement to Tadawul, the company said the request included raising capital from SAR 291 million to SAR 300 million by issuing 900,000 new ordinary shares, with preemptive rights suspended.
Any material developments related to the application will be announced in due course, ACIG added.
According to Argaam data, the board recommended in July increasing capital through issuing shares with preemptive rights suspended to comply with the minimum paid-in capital requirement for insurance companies of SAR 300 million.
In August, ACIG received approval from the Insurance Authority for the capital increase and the subscription of Dyar Arabia Investment Co. in all new shares.
Logo ofAllied Cooperative Insurance Group (ACIG)
In a statement to Tadawul, the company said the request included raising capital from SAR 291 million to SAR 300 million by issuing 900,000 new ordinary shares, with preemptive rights suspended.
Any material developments related to the application will be announced in due course, ACIG added.
According to Argaam data, the board recommended in July increasing capital through issuing shares with preemptive rights suspended to comply with the minimum paid-in capital requirement for insurance companies of SAR 300 million.
In August, ACIG received approval from the Insurance Authority for the capital increase and the subscription of Dyar Arabia Investment Co. in all new shares.
