Global law firm White & Case LLP has advised Saudi Hollandi Capital, the financial advisor, lead manager and underwriter, on the rights issue by Saudi Arabian Cooperative Insurance Company. The Firm has previously worked with Saudi Hollandi Capital on a number of capital markets transactions.
The transaction consisted of the issuance of 15,000,000 shares to increase the share capital of Saudi Arabian Cooperative Insurance Company from SAR 100 million to SAR 250 million.
Riyadh-based White & Case local partner Robert Vydra said: "The Firm sees further growth opportunities in the Saudi Arabian insurance sector and we're very well-placed to continue advising on deals in that sector. In addition to the rights issue by Saudi Arabian Cooperative 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 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 local partner Robert Vydra and included partner Dr. Waleed Al-Nuwaiser with support from associates Mishari Alabbad and Majed Alkuraydis.
The Firm has been active in Saudi Arabia since the 1950s, with an office presence in the country since 1989 from which clients are provided with both Saudi Arabian and international legal services. The legal team in Riyadh, which includes six partners, advises international investors and lenders, private companies, the Saudi government and Saudi public institutions on a range of issues and can call on the support of lawyers in the Firm's other GCC offices (Doha and the United Arab Emirates) as well as the White & Case network worldwide.
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