Gulf Union Cooperative Company increases its share capital

The Capital Market Authority (CMA) has approved the capital increase of Gulf Union Cooperative Company, from 150 million SAR (40 million USD) to 242 million SAR (64.4 million USD).

The transaction will be completed via the issuance of 9 193 548 ordinary shares which will allow to acquire the entire shares of Al Ahlia Insurance Company.

Once the operation approved by the shareholders' extraordinary general assembly meeting, Gulf Union will submit an offer to Al Ahlia.

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• Merger between Al Ahlia and Gulf Union