Logo of Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful)
Al-Rajhi Company for Cooperative Insurance’s (Al Rajhi Takaful) shareholders greenlit a 150% capital increase to SAR 1 billion, through capitalizing SAR 600 million from retained earnings and distributing 1.5 bonus shares for every share held.
The approval was made during the extraordinary general meeting (EGM) held on Dec. 3, according to a Tadawul statement.
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Capital Increase Details |
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Current Capital |
SAR 400 mln |
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Number of Shares |
40 mln |
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Percentage of Increase |
150% |
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Method |
1.5-for-1 bonus share distribution and capitalizing SAR 600 million from retained earnings |
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New Capital |
SAR 1 bln |
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Number of Shares |
100 mln |
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Reason |
To support strategic and expansion plans by providing insurance solutions to clients, including individuals, corporate and SMEs. |
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Record Date
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Dec. 3, 2023 (Including shareholders registered with Edaa by the close of second trading day after record date) |
Fractional shares, if any, will be collected into a single portfolio to be sold at market price within 30 days, on a pro-rata basis from the date of determining the allocation of new shares for each shareholder.
In a separate statement, the Saudi Exchange (Tadawul) announced that the fluctuation limits for Al Rajhi Takaful today will be based on a share price of SAR 64.80. Accordingly, the outstanding orders will be canceled.
Furthermore, the Securities Depository Center (Edaa) will deposit the bonus shares into investors’ portfolios by Dec. 6.
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