Tadawul sets fluctuation limit for Al-Etihad

20/06/2019 Argaam

Al-Etihad Cooperative Insurance Co.'s fluctuation limit for its capital increase will be based on a share price of SAR 15.60, the Saudi Stock Exchange (Tadawul) said in a statement today.

 

The additional shares will be deposited into investor's portfolios on June 24, it added.

 

In May, Al-Etihad received the approval of the Saudi Capital Market Authority (CMA) on a capital increase by SAR 125 million to SAR 400 million through issuing five bonus shares for every 11 existing shares.

 

The increase will be financed from retained earnings (SAR 95.74 million) and the statutory reserve (SAR 29.25 million).

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