Abu Dhabi National Company for Building Materials (BILDCO) has approved plans to enter Al Khazna Insurance Company as a strategic partner and increase the insurer’s share capital to AED 3 billion, subject to final terms, valuation and the necessary regulatory approvals.
According to the disclosure, BILDCO’s Board of Directors approved the proposed transaction at its meeting held on 12 August 2026, based on recommendations from its Strategy and Investment Committee.
The proposed transaction includes the issuance of new shares as part of the capital increase. The number of shares, nominal value, issue price and BILDCO’s final ownership percentage will be determined based on the final agreements and approvals from the relevant authorities.
Al Khazna Insurance’s Board of Directors subsequently approved BILDCO’s offer on 17 August 2026, covering BILDCO’s proposed entry as a strategic partner and an increase in Al Khazna Insurance’s share capital by an amount not exceeding AED 3 billion.
Al Khazna Insurance has also applied to the Capital Market Authority for approval to convene a General Assembly to consider the proposed offer and capital increase. The company received approval to hold the General Assembly on 18 September 2026.
The transaction remains subject to the completion of the valuation process, final agreements and all relevant regulatory approvals. Final figures, ownership percentages and other terms have therefore not yet been determined.
Source: BILDCO
Disclaimer: This article is for informational purposes only and should not be construed as investment, financial, or legal advice.
