Saudi Enaya Cooperative insurance Co.’s shareholders approved, on Wednesday, a 200 percent capital hike to SAR 300 million from SAR 100 million, through a rights issue, the company said in a bourse statement.
|
Key Figures of the Capital Hike |
|
|
Current Capital |
SAR 100 mln |
|
Number of shares |
10 mln shares |
|
Hike (%) |
200% (2 for every 1 share) |
|
New Capital |
SAR 300 mln |
|
New number of shares |
30 mln shares |
|
Record date |
Dec. 12, 2018 |
|
Driver |
To improve the company's solvency margin and support the financial position |
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