Global law firm White & Case LLP has advised ANB Invest, the financial advisor, lead manager and co-underwriter, and Saudi Hollandi Capital, the co-underwriter, on the SAR 100 million rights issue by Wataniya Insurance Company. The transaction consisted of the issuance of 10,000,000 shares to increase the share capital of Wataniya Insurance Company from SAR 100 million to SAR 200 million.
"This rights issue showcases our Equity Capital Markets expertise and detailed knowledge of the Saudi Arabian insurance sector", said Riyadh-based White & Case partner Robert Vydra, who led the Firm's deal team. "In addition to the rights issue by Wataniya Insurance Company, we've also represented Bupa Arabia for Cooperative Insurance on its initial public offering and the financial advisors, lead managers and underwriters on the rights issues by Saudi Arabian Cooperative Insurance Company, Al-Ahlia for Cooperative Insurance Company and Axa Cooperative Insurance Company."
The White & Case team in Riyadh which advised on the transaction, was led by partner Robert Vydra with support from associates Yasser Alkhelaiwi and Majed Alkuraydis.
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