Arabia Insurance Cooperative Co. (AICC) appointed Alinma Investment as a financial advisor to manage its SAR 265 million rights issue, the Saudi insurer said in a bourse filing.

 

Submission of the capital hike file to the Capital Market Authority (CMA) along with any relevant updates will be duly revealed, the statement added.

 

In December 2018, AICC board of directors recommended a capital hike through a SAR 265 million rights issue, according to data available on Argaam.

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