Gulf General recommends SAR 300 mln rights issue

29/04/2019 Argaam

Gulf General Cooperative Insurance Co.’s board of directors has recommended a capital hike through a SAR 300 million rights issue, the company said in a bourse statement.

 

The capital hike aims to support the expansion in company’s activities.

 

The process is pending approvals from the general assembly and regulator.

 

Shareholders of record on the second day after the extraordinary general meeting will be entitled to subscribe to the offering.

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