Market regulator to decide on Rajhi Takaful, United requests to increase capital within 2 weeks

15/12/2014 Argaam

Saudi Arabia Capital Market Authority, the stock market regulator, will make a decision within two weeks on requests by al-Rajhi Company for Cooperative insurance, Rajhi Takaful, and United Cooperative Assurance Co to increase capital through rights issue, it said in a statement.

 

Companies which plan to increase capital should publish their decision, appoint a licensed financial advisor to be the main contact with CMA and appointing an underwriter, CMA added.

 

Approval of rights issue should not be considered as recommendation to invest in the company by potential investors, it added. 

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