Saudi Enaya Cooperative Insurance Co.' shareholders will vote on increasing capital through rights offering during the extraordinary general meeting (EGM), scheduled on Nov. 28, the company said in a statement to Tadawul.
Capital Hike Details |
|
Current Capital |
SAR 230 mln |
Number of Shares |
23 mln |
New Capital |
SAR 380 mln |
Number of Shares after Increase |
38 mln |
Capital Increase (%) |
65.2% (Each listed shareholder shall have the right to subscribe to 0.65217 shares for every owned share.) |
Record Date |
Shareholders of record at the end of trading on the day of the EGM and those registered with Edaa at the end of the second trading day following the EGM |
The company aims through the capital hike process to adhere to the minimum required capital of insurance companies and to support its future plans and financial solvency margin.
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