Riyadh – Mubasher: Malath Cooperative Insurance and Reinsurance Company’s board of directors recommended yesterday a capital hike through a rights issue.
The capital increase aims at supporting the company’s sales growth and its expansion capacity, according to a bourse statement.
The company will appoint an advisor to set the amount of the capital hike according to future plans and projects, then propose the amount to shareholders in the extraordinary general meeting.
The company’s stock closed today’s trading with a rise of 0.53% to SAR 15.30 ($4.08).
