Fidelity Insurance launches second share offering
Fidelity Insurance Company in the UAE has announced an invitation to its shareholders to subscribe to the second phase of the capital increase through a rights issue. This will involve the issuance of 30 million shares, each valued at one dirham, raising the capital from 190 million dirhams to 220 million dirhams. This step is part of a comprehensive plan to increase capital from 160 million dirhams to 267 million dirhams in three phases, following approvals from the UAE Central Bank and the Securities and Commodities Authority. A total of 30 million shares were already issued in the first phase. The company's goal with this issuance is to strengthen its financial capabilities and expand its investment operations.
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