Logo of Aljazira Takaful Taawuni
Aljazira Takaful Taawuni Co.’s board of directors recommended, on April 5, 2021, a capital hike to SAR 550 million from SAR 470.66 million through 16.86% bonus shares.
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Key Figures of the Capital Hike |
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Current Capital |
SAR 470.66 mln |
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Number of shares |
47.07 mln |
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Hike (%) |
16.86% (0.1686 share for every 1 outstanding share) |
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New Capital |
SAR 550 mln |
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New number of shares |
55 mln |
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Method |
Capitalizing SAR 79.34 mln from retained earnings account |
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Driver |
Support and strengthen company’s capital base and future activities |
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Record date |
Shareholders registered with the Securities Depository Center (Edaa) at the end of the second trading day following the general assembly meeting date |
The stock dividends are conditional upon the approval of the official authorities and the extraordinary general assembly on increasing the capital and the number of granted shares.
The insurer increased its capital to SAR 470.66 million from SAR 350 million through issuing new share to merge with Solidarity Saudi Takaful Co., according to data compiled by Argaam.
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