Shareholders of Amana Cooperative Insurance Co. are set to vote on raising capital to SAR 240 million through a SAR 100 million rights issue on Jan. 28, the company said in a bourse statement on Monday.
The insurer had earlier postponed its extraordinary general assembly meeting on Dec. 25 due to a lack of quorum, Argaam reported.
Key Figures of the Capital Hike |
|
Current Capital |
SAR 140 mln |
Number of shares |
14 mln shares |
New Capital |
SAR 240 mln |
Number of shares after capital hike |
SAR 24 mln |
Capital hike reason |
To improve the company’s solvency and financial position |
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