Walaa appoints financial advisor to manage rights issue

18/01/2024 Argaam
Logo of Walaa Cooperative Insurance Co.

Logo of Walaa Cooperative Insurance Co.

Walaa Cooperative Insurance Co. appointed AlJazira Capital as financial advisor to manage the subscription of its rights issue.

 

In a statement to Tadawul, the company said that it will provide additional updates upon the submission of the capital increase application file to the Capital Market Authority (CMA) and will also disclose any future developments in this regard.

 

In September 2023, Walaa’s board of directors recommended increasing the company’s capital through a SAR 425 million rights offering, according to data available on Argaam.

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