DUBAI, March 10 Qatar's Doha Insurance
said on Monday it would offer new shares to shareholders from
March 17 through March 31 as it aims to raise 436.7 million
riyals ($119.9 million) and nearly double its capital.
Shareholders will be able to buy up to 24,260,000 new shares
at a price of 18 riyals per share, a discount to the closing
price of 24 riyals on Sunday.
Shareholders will be allowed to subscribe for nine new
shares for every 10 they currently own.
Doha Insurance has said the capital boost would increase
financial solvency and improve its credit rating, which would
allow it to compete for large projects locally and
($1 = 3.6415 Qatar riyals)
(Reporting by Olzhas Auyezov; Editing by Jason Neely)