Gulf Union Cooperative Insurance Company (GUCIC) received a correspondence from Saudi Arabian Monetary Agency (SAMA) containing regulatory requisites for approving its planned capital increase, as follows:
The company’s board decided in May to raise the size of a proposed capital increase from SAR 165 million to SAR 220 million pending regulatory approvals.
The company said in a filing to Tadawul it will provide such documentations on October 27, 2014.
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