Al Sagr appoints Albilad Capital as financial advisor for rights issue

04/10/2023 Argaam

Al Sagr appoints Albilad Capital as financial advisor for rights issue

Logo of Al Sagr cooperative Insurance Co.

Al Sagr Cooperative Insurance Co. appointed Albilad Capital as the financial advisor to manage the subscription of its rights issue, the company said in a statement to Tadawul. 

 

The insurer will announce the submission of its capital increase request with the Capital Market Authority (CMA). 

 

Any future developments will be disclosed in due course, the statement added. 

 

According to data available with Argaam, Al Sagr’s board recommended, on Sept. 13, to increase the company's capital by issuing rights shares worth SAR 160 million, bringing the new capital to SAR 300 million. 

 

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