The Board of Directors of “ACIG” recommends increasing the capital to 300 million riyals
The Board of Directors of the United Cooperative Insurance Group (ACIG) recommended increasing the company’s capital from 291 million riyals to 300 million riyals.
The company had previously announced on its website "Saudi Arabia trading"The board of directors’ recommendation to increase the company’s capital by offering shares with the suspension of the priority right. The company said: The capital increase will be through the issuance of 900,000 new ordinary shares representing 3.09% of the company’s capital, with a nominal value of 10 riyals, and an offering price of 10 riyals for each share.
It added that the total value of the offering is 9 million riyals, with the suspension of the priority right, which will be fully subscribed by Diyar Arabia For investment.
The subscriber will own 3% of the company’s capital after the capital increase.
It should be noted that this recommendation is subject to the approval of the relevant regulatory authorities in addition to the approval of the company’s extraordinary general assembly.
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