Metlife OKs capital hike through SAR 175 mln rights issue

27/04/2015 Argaam

Metlife AIG ANB Cooperative Insurance ​Company ​approved on Monday a SAR 175 million rights issue to raise its capital, subject to regulatory approval, according to its statement to the Saudi bourse.

 

Eligibility will be for shareholders ​listed on the company’s registry at the end of trading day​,​ on which the extraordinary general assembly will be held.

 

The insurer said the objective is to enhance solvency margin and support the company’s future investment​s​.

 

IPO

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