Saudi Enaya Cooperative Insurance Co. said it received on Tuesday a no-objection letter from Saudi Arabian Monetary Authority (SAMA) regarding its proposed SAR 200 million capital increase through rights issue.


The approval is conditional upon completing all other related regulatory approvals and processes, the insurer said in a bourse statement.

 

Last December, the Company’s board of directors recommended a SAR 200 million capital hike through rights issue, Argaam reported earlier.

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