Salama gets IA approval on capital hike via rights issue
Logo ofSalama Cooperative Insurance Co.
Samala Cooperative Insurance Co.received on June 2 the Insurance Authority’s (IA) approval on its request to raise the capital from SAR 200 million to SAR 300 million through a SAR 100 million rights issue.
The IA’s letter stated that the authority has no objection to amending the capital article in the company’s articles of association to reflect the new capital and that the approval is valid for one year from its date…
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