Saudi Enaya obtains regulatory nod for capital raise

The insurance firm aims to increase its capital to $101.33mln

Staff Writer, Mubasher

September 12, 2024

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Riyadh – The Capital Market Authority (CMA) approved the request of Saudi Enaya Cooperative Insurance Company to raise its capital by SAR 150 million.

The insurance firm aims to increase its capital to SAR 380 million from SAR 230 million by offering rights issues shares, according to a bourse disclosure.

The CMA greenlighted the capital hike on 10 September 2024, while the company submitted the application file on 17 April.

Last July, Saudi Enaya penned a deal with Dr. Soliman Abdel Kader Fakeeh Hospital Company to provide health insurance coverage to Fakeeh Care employees and their families for one year.

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