Edaa implements procedures to reduce Saudi Enaya’s capital

23/10/2022 Argaam
Logo of Saudi Enaya Cooperative Insurance Co.

Logo of Saudi Enaya Cooperative Insurance Co.


The Securities Depository Center Co. (Edaa) started reducing today, Oct. 23, the number of shares in the accounts of Saudi Enaya Cooperative Insurance Co.’s eligible shareholders, according to a Tadawul statement.

 

During the extraordinary general meeting (EGM) held on Oct. 18, shareholders approved the board’s recommendation to reduce capital by 33.33% from SAR 150 million to SAR 100 million, according to Argaam.

 

It is scheduled that the insurer’s shares will be re-traded in the market as of today, after being suspended for two trading sessions for the capital cut’s implementation.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.