Allianz Saudi Fransi Cooperative Insurance Co.’s (Allianz SF) board of directors has recommended a capital hike through a SAR 400 million rights issue, the company said in a bourse statement.

 

The capital hike aims to support business expansions.

 

The process is pending approvals from the general assembly and regulator.

 

The rights issue size and price per share will be determined after obtaining necessary approvals.

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