Al-Rajhi Takakful’s BOD recommends a capital raise of SAR 200m through a rights issue

Al-Rajhi Takaful Company for Cooperative Insurance’s board of directors recommended SAR 200m capital raise through a rights issue after being preapproved by SAMA on April 24, 2014.

The capital raise is intended to enhance the solvency margin and support the company’s future expansions.

According to Argaam’s data; in order for Al-Rajhi to be eligible for SAMA’s final Approval; the company should fulfill some requirements as well as obtaining other official bodies’ approvals.

The record date for this issue will be the approving general assembly’s date.