Buruj Cooperative Insurance Co.’s shareholders are set to vote on a proposed 20 percent capital hike to SAR 300 million from SAR 250 million, on Jan. 14, 2019, the company said in a bourse statement.
The step aims to support the capital base to assist in increasing growth rate and business expansion.
|
Key Figures of Capital Hike |
|
|
Current Capital |
SAR 250 mln |
|
Number of shares |
25 mln |
|
Hike (%) |
20% (1 share for every 5 shares) |
|
New Capital |
SAR 300 mln |
|
New number of shares |
30 mln |
|
Record date |
General assembly meeting |
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