SAUDI ARABIA: The Saudi Capital Market Authority approved the Saudi Reinsurance proposal for issuance 26.73 million new shares to raise SAR427.68 million (US$113.74 million) – with the suspension of pre-emptive rights, as these new shares will be limited to specific investors categories. The reinsurer had announced in July 2024 a binding subscription agreement with the Public Investment Fund (PIF) to increase its capital with the suspension of pre-emptive rights.
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