12:22 AM EDT, 08/21/2026 (MT Newswires) -- Abu Dhabi National Co. for Building Materials (ADX:BILDCO), d/b/a Bildco, said Thursday that Al Khazna Insurance's (ADX:AKIC) board approved its offer for a strategic partnership. The offer also includes boosting the insurance company's share capital by up to 3 billion Emirati dirhams through the issuance of new shares, with the number of shares and issue price to be based on final agreements and approval from competent authorities. The building materials company added that Al Khazna Insurance secured the Capital Market Authority's approval for a general assembly to consider the offer, set to take place on Sept. 18. Furthermore, Al Khazna Insurance will change its name to Al Khazna Alamiya Holding, subject to regulatory approval and statutory procedures, as well as approval at the general assembly.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.