Saudi Enaya shareholders to vote on capital hike via rights issue on Nov. 28

07/11/2024 Argaam

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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