The insurance company said it will issue 2,256 new shares, of which 1,128 shares will be acquired by Turonbank. Manhold Commercial Limited will buy 376 shares and Orient capital management will purchase 752 shares.

The company said the shares will be sold on market prices, but not below its par value. The company did not disclose other details.

Universal Sug’urta founded in 1994. Earlier, the company worked under Metro name and it was renamed into Universal Sug’urta in 2007. Charter capital of Universal Sug’urta is US$1.12 million.