Arabian Shield Cooperative Insurance Co.’s fluctuation limit after capital hike will be based on a share price of SAR 26.77, the Saudi Stock Exchange (Tadawul) said in a statement Tuesday.

 

Meanwhile, the Securities Depository Center (Edaa) will deposit the additional shares into investor portfolios by Thursday, May 24. 

 

On Monday, the company’s extraordinary general assembly approved a board recommendation to increase capital by 50 percent to SAR 300 million, from SAR 200 million through bonus shares.

 

 Shareholders of record on May 21, and those who are registered at the Securities Depository Center two days after the general assembly meeting, are eligible to receive the bonus shares, the insurer said in a separate statement.

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