Saudi Arabia's Capital Market Authority approved Allied Cooperative Insurance Group’s request to increase its capital through a rights issue valued at SAR 209,000,000. Subscription will be limited to shareholders registered in the shareholders’ registry at the Securities Depository Center as of the close of the second trading day after the extraordinary general assembly meeting, which will be set by the company’s board at a later date. The offering price and number of shares will be determined after market close on the day the meeting is held. The rights issue prospectus will be made available to the public at a later time, with the regulator noting that approval indicates the legal requirements under the Capital Market Law and its Implementing Regulations have been met and should not be treated as a recommendation to subscribe or invest.
Saudi Arabia Capital Markets Authority 2025-03-27
Saudi Arabia's Capital Market Authority approves Allied Cooperative Insurance Group SAR 209 million rights issue capital increase
Saudi Arabia's Capital Market Authority has approved Allied Cooperative Insurance Group's capital increase via a SAR 209 million rights issue. Subscription is limited to shareholders registered at the Securities Depository Center after the extraordinary general assembly meeting. The rights issue prospectus will be released later, with the approval confirming compliance with legal requirements but not serving as an investment recommendation.