“ACIG” signs a subscription agreement with “Deyaar” to raise the capital to 300 million riyals
The United Cooperative Insurance Group (ACIG) announced today, Thursday, the signing of a subscription agreement with the company "Diyar Arabia Investment"To complete the increase in the company’s capital by offering shares while suspending the priority right.
According to a company statement on "Saudi Arabia trading"According to the subscription agreement, the company will increase its capital from (291,000,000) riyals to (300,000,000) riyals, with the suspension of the priority right, by issuing (900,000) new ordinary shares representing (3.09%) of the company’s current capital, with a nominal value of (10) riyals per share.
The new shares will be fully subscribed by the subscriber, so that they will be owned by The subscriber to the company’s capital (3%) after the capital increase, and committed under the subscription agreement to pay a subscription amount of (10) riyals for each new share, so that the total subscription amount represents (9,000,000) riyals in exchange for the issuance of new shares, after the issuance of the Insurance Authority’s approval to increase the company’s capital, which was obtained on August 27, 2025, subject to obtaining the approval of the Capital Market Authority.
The capital increase is subject to a number of prior conditions, which mainly include obtaining Subject to the non-objection of the Insurance Authority, the approval of the Capital Market Authority, the Saudi Tadawul Company, the approval of the company’s extraordinary general assembly, and the necessary internal approvals of the subscriber. Upon completion of the company’s capital increase, the company will complete all necessary regulatory procedures at the Ministry of Commerce, the Saudi Business Center, the Capital Market Authority, the Saudi Tadawul Company, and the Securities Depository Company (Edaa), in order to list the shares and enable their trading in the Saudi financial market as soon as possible.
The company has appointed Al-Istithmar Securities and Brokerage Company (Al-Istithmar Capital) acted as a financial advisor regarding the potential capital increase procedures.
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