Walaa Cooperative Insurance Co.’s (Walaa) shareholders yesterday approved the board’s recommendation on increasing capital from SAR 400 million to SAR 440 million, through a 10 percent bonus share distribution, or 1 bonus share for every ten outstanding shares.
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Capital Hike Details |
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Current capital |
SAR 400 mln |
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Current no. of shares |
40 mln |
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Hike (%) |
10% (1 for every 10 shares) |
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New capital |
SAR 440 mln |
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New no. of shares |
44 million shares |
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Record date |
29 May 2018 |
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Purpose of capital hike |
Boosting long-term strategic plans |
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