Saudi Enaya Cooperative Insurance Opens Creditor Objection Period for Salama Merger

03:36 AM EST, 12/03/2025 (MT Newswires) -- Saudi Enaya Cooperative Insurance (SASE:8311) initiated the creditor objection period for its proposed merger with Salama Cooperative Insurance (SASE:8050), following the Saudi Capital Market Authority's approval of the latter's capital increase application. The approval issued Monday allows Salama to proceed with its planned issuance of 18,894,000 new ordinary shares to Enaya shareholders as merger consideration, according to a Wednesday release. The creditor objection period will run until Dec. 18, with Enaya noting that any objections will not suspend the merger. The planned combination remains subject to shareholder approval at both companies.