Logo of Al-Rajhi Company for Cooperative Insurance (Al Rajhi Takaful)
Al-Rajhi Company for Cooperative Insurance’s (Al Rajhi Takaful) shareholders will vote on 150% capital increase to SAR 1 billion, through capitalizing SAR 600 million from retained earnings and distributing 1.5 bonus shares for every share held, during an extraordinary general meeting (EGM) slated for Dec. 3.
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Capital Increase Details |
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Current Capital |
SAR 400 mln |
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Number of Shares |
40 mln |
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Percentage of Increase |
150% |
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Method |
1.5-for-1 bonus share distribution and capitalizing SAR 600 million from retained earnings |
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New Capital |
SAR 1 bln |
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Number of Shares |
100 mln |
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Reason |
The company aims to support its strategic and expansion plans by continuing to provide insurance solutions to clients, including individuals, corporate and SMEs. |
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Record Date
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Dec. 3, 2023 (Including shareholders registered with Edaa by the close of second trading day after record date) |
In a statement to Tadawul, Al Rajhi Takaful said the bonus issue is subject to the approval of competent authorities as well as the company’s shareholders.
Fractional shares, if any, will be collected into a single portfolio to be sold at market price within 30 days, on a pro-rata basis, from the date of determining the allocation of new shares for each shareholder.
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