Logo of Chubb Arabia

Shareholders of Chubb Arabia Cooperative Insurance Co. approved a capital increase from SAR 200 million to SAR 300 million through the issue of one bonus share for every two shares held, during the extraordinary general meeting (EGM) held on July 14.

 

Key Figures of the Capital Hike

Current Capital

SAR 200 mln

Number of shares

20 mln

Hike (%)

50% (1 share for every 2 outstanding shares)

New Capital

SAR 300 mln

New number of shares

30 mln

Record date

July 14, 2021 (Shareholders registered with the Securities Depository Center (Edaa) at the end of the second trading day following the EGM date)

Driver

Support company’s financial position and future expansions

 

In a separate statement, the Saudi Exchange (Tadawul) announced Chubb Arabia’s daily trading fluctuation limit will be based on a share price of SAR 36.05.

 

All outstanding orders will be cancelled. Edaa will deposit the additional shares into the investors’ portfolios by July 26.

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