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The Saudi Capital Market Authority agreed to increase the capital of Al-Jazira Takaful Company for the purpose of merging with Solidarity Company through a securities exchange offer.
According to CNBC Arabia, the value of the capital increase is about 12.1 million riyals, bringing the company’s capital to 470.7 million riyals.
that the merger and capital increase process take place upon the approval of the shareholders of the two companies.
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