Edaa deposits Chubb Arabia bonus shares into investor portfolios

24/10/2017 Argaam

The Securities Depository Center (Edaa) deposited on Tuesday Chubb Arabia Cooperative Insurance Co.’s additional shares into investor portfolios following the company’s capital hike, Edaa said in a statement to Tadawul.

 

The insurer’s shareholders approved last week a 100 percent capital increase to SAR 200 million from SAR 100 million through a 1:1 bonus share issue.

 

The hike aims to fund expansions and increase solvency margin.

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