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

PHOTO

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.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.