Saudi Enaya’s rights issue closes today

Subscription to Saudi Enaya Cooperative Insurance Co.’s rights issue will close today, Thursday, Dec. 27, the insurer said in a bourse statement

Enaya began its rights issue on Monday, Dec. 17, to raise capital to SAR 300 million from SAR 100 million.

Enaya offered 20 million shares at SAR 10 each; and shareholders of record, owning one outstanding share were entitled to subscribe to two shares.

The offering aimed to improve the company's solvency margin and support its financial position.