Logo ofAl Rajhi Company for Cooperative Insurance (Al Rajhi Takaful)
Al Rajhi Company for Cooperative Insurance’s (Al Rajhi Takaful)board recommended a 100% capital hike through distributing one bonus share for every one shares held. 
The capital increase will be financed by capitalizing SAR 1 billion from retained earnings.
Capital Increase Details
Current Capital
SAR 1 bln
CurrentNo. of Shares
100 mln
Percentage of Increase
100%
New Capital
SAR 2 bln
New No. of Shares
200 mln
Reason
Strengthening the capital base, which contributes to supporting the company’s strategic and expansion plans by continuing to provide insurance solutions to the company’s clients, including individuals, corporates and SMEs.
Capitalization
Capitalizing SAR 1 bln from retained earnings
Record Date
Shareholders of record and those registered with Edaa by the close of the second trading day following the record date
Fractional shares, if any, will be compiled in one portfolio for all shareholders and will be offeredat market price. Proceeds will be distributed among entitled shareholders pro rata within 30 days maximum, the insurer said in a statement toTadawul.
The decision is conditional on approvals from competent authorities and shareholders, the statement added.
Logo ofAl Rajhi Company for Cooperative Insurance (Al Rajhi Takaful)
Al Rajhi Company for Cooperative Insurance’s (Al Rajhi Takaful)board recommended a 100% capital hike through distributing one bonus share for every one shares held.
The capital increase will be financed by capitalizing SAR 1 billion from retained earnings.
Capital Increase Details
Current Capital
SAR 1 bln
CurrentNo. of Shares
100 mln
Percentage of Increase
100%
New Capital
SAR 2 bln
New No. of Shares
200 mln
Reason
Strengthening the capital base, which contributes to supporting the company’s strategic and expansion plans by continuing to provide insurance solutions to the company’s clients, including individuals, corporates and SMEs.
Capitalization
Capitalizing SAR 1 bln from retained earnings
Record Date
Shareholders of record and those registered with Edaa by the close of the second trading day following the record date
Fractional shares, if any, will be compiled in one portfolio for all shareholders and will be offeredat market price. Proceeds will be distributed among entitled shareholders pro rata within 30 days maximum, the insurer said in a statement toTadawul.
The decision is conditional on approvals from competent authorities and shareholders, the statement added.
