Riyadh – Mubasher: Saudi Arabian Capital Market Authority (CMA) has approved a request by Wataniya Insurance Company to increase its capital through offering rights issue shares worth SAR 100 million.
The capital hike will be limited to registered shareholders at the end of trading day of the extraordinary general meeting (EGM).
The EGM’s date will be announced later by the company’s board of directors, according to a bourse filing released on Sunday.
The increase aims at boosting solvency margin and future business.
