The company "Blue Five Holdings Limited" has announced the submission of a non-binding formal expression of interest to undertake a strategic investment in the Gulf Cooperative Insurance Public Company "GGI". The deal includes a proposed reduction and restructuring of capital to address the accumulated losses of "GGI", followed by a capital increase. Under this deal, the pre-emptive rights of existing shareholders will be suspended, and they will not be given the first opportunity to purchase new shares; instead, the shares will be issued for cash subscription in favor of the company. "GGI" has disclosed the proposed offer on the Saudi Stock Exchange "Tadawul", explaining that the deal consists of two main components and aims to strengthen the company's financial base.
