The increase will be carried out through the issuance of one bonus share for every one held
The Capital Market Authority (CMA) granted Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) the approval to increase its capital from SAR 1 billion to SAR 2 billion. 
In a statement, the authority said the increase will be carried out through the issuance of one bonus share for every one held.
Eligible shareholders are those registered with the Security Depository Center (Edaa) by the end of the second trading day after the record date that will be determined later.
The capital increase will be financed by transferring SAR 1 billion from the retained earnings balance, which will increase the number of shares from 100 million to 200 million.
The company’s extraordinary general meeting (EGM) shall be held within six months from this approval date, and the company shall satisfy all regulatory requirements and applicable laws, said the regulator.
According to Argaam’s data, Al Rajhi Takaful’s board recommended a 100% capital hike through bonus shares, with the aim of strengthening the company’s capital base, which contributes to supporting its strategic and expansion plans.
The increase will be carried out through the issuance of one bonus share for every one held
The Capital Market Authority (CMA) granted Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) the approval to increase its capital from SAR 1 billion to SAR 2 billion.
In a statement, the authority said the increase will be carried out through the issuance of one bonus share for every one held.
Eligible shareholders are those registered with the Security Depository Center (Edaa) by the end of the second trading day after the record date that will be determined later.
The capital increase will be financed by transferring SAR 1 billion from the retained earnings balance, which will increase the number of shares from 100 million to 200 million.
The company’s extraordinary general meeting (EGM) shall be held within six months from this approval date, and the company shall satisfy all regulatory requirements and applicable laws, said the regulator.
According to Argaam’s data, Al Rajhi Takaful’s board recommended a 100% capital hike through bonus shares, with the aim of strengthening the company’s capital base, which contributes to supporting its strategic and expansion plans.
