Logo ofSaudi Reinsurance Co. (Saudi Re)
The Capital Market Authority (CMA) approved Saudi Reinsurance Co.’s (Saudi Re) request to raise capital by 46.6% from SAR 1.158 billion to SAR 1.69 billion via a 4:9 bonus issue. 
In a statement today, Sept. 8, the market regulator said bonus shares will be eligible to shareholders registered with the Securities Depository Center Co. (Edaa) by the end of the second trading day following the record date, which will be determined later by the company’s board of directors.
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The planned capital hike will be funded by capitalizing SAR 539.8 million from the company’s retained earnings account. Consequently, the number of the company’s outstanding shares will rise from 115.83 million to 169.81 million.
The deciding 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.
Logo ofSaudi Reinsurance Co. (Saudi Re)
The Capital Market Authority (CMA) approved Saudi Reinsurance Co.’s (Saudi Re) request to raise capital by 46.6% from SAR 1.158 billion to SAR 1.69 billion via a 4:9 bonus issue.
In a statement today, Sept. 8, the market regulator said bonus shares will be eligible to shareholders registered with the Securities Depository Center Co. (Edaa) by the end of the second trading day following the record date, which will be determined later by the company’s board of directors.
For more news on listed companies
The planned capital hike will be funded by capitalizing SAR 539.8 million from the company’s retained earnings account. Consequently, the number of the company’s outstanding shares will rise from 115.83 million to 169.81 million.
The deciding 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.
