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Saudi regulator approves Aljazira Takaful's IPO plan
- Saudi Arabia: Monday, April 29 - 2013 at 02:06
Saudi insurer under establishment Aljazira Takaful Ta'awuni Co (ATT) has received the approval of the Capital Market Authority (CMA) to float an initial public offering (IPO) of 10,500,000 shares, representing 30% of its share capital, amounting to SR350m, Arab News has reported. The planned IPO will improve the company's financial position and enable it to realise its strategic objectives to become the local and regional leader of Islamic cooperative insurance, said ATT chairman, Abdulmajeed Al-Sultan.
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