Riyadh – Mubasher: Malath Cooperative Insurance Company on Monday said it will end the period of its right issue shares trading on 16 October, while the subscription period of the new shares will last until Thursday, 19 October.
On Monday, 9 October, the Saudi insurance company started the period of trading right shares and subscription in new shares, as it aims to raise capital by 316.7% to reach SAR 500 million instead of SAR 120 million.
In July, the Capital Market Authority (CMA) on Saudi Arabia approved Malath’s request to increased capital through issuing right issue shares at a value of SAR 380 million.
By 12:32 pm KSA time, Saudi Arabia-based insurance firm’s stock decreased 3.18% reaching SAR 13.38.
