*http://www.spa.gov.sa/English/details.php?id=472598
Saudi Cooperative Insurance Company Formed Riyadh, Aug 04, SPA*-- Hisham Abdullah Yamani, the Minister of Commerce and Industry approved today the formation of The Saudi Arabian Cooperative Insurance Company with its headquarters in Riyadh city. The Company is to be established with an amount of SR 100 million, split into 10 million shares, with each share valued at SR 10. The Company's founders have already subscribed with 6 million shares worth SR 60 million, representing 60 percent of the company's total capital. The remaining 4 million shares valued at SR40 million are reserved for public subscription. --SPA [Non-text portions of this message have been removed]
