Riyadh-Mubasher: Wataniya Insurance said it submitted on Sunday a filing to the Capital Market Authority (CMA) requesting its approval to proceed with a capital increase, according to a bourse statement posted today.
The company’s board earlier recommended raising capital by SAR 100 million through offering rights issue shares,
to boost solvency margin and future business.
The insurer operates with SAR 100 million in paid-up capital, divided into 10 million shares at a par value of SAR 10 each.
The stock closed Sunday 0.39% higher at SAR 51.76.
