Saudi Enaya requests CMA nod on capital increase via rights issue

Logo of Saudi Enaya Cooperative Insurance Co.

Saudi Enaya Cooperative Insurance Co. submitted, on April 17, a file to the Capital Market Authority (CMA) requesting approval on a capital increase via a rights issue, according to a statement to Tadawul.

Any developments in this regard will be announced later, the statement added.

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The Saudi insurer’s board of directors recommended, on Dec. 10, 2023, increasing capital to SAR 380 million via a SAR 150 million rights issue, data compiled with Argaam showed.