Al Sagr shareholders to vote on capital hike on July 29

04/07/2018 Argaam

Al Sagr Cooperative Insurance Co.’s shareholders are set to vote on a 60 percent capital hike to SAR 400 million from SAR 250 million, on July 29, 2018.

 

The capital hike aims to support the company's capital base and future expansions. 

  

Key Figures of the Capital Hike

Current Capital

SAR 250 mln

Number of shares

25 mln shares

Hike (%)

60% (3 for every 5 shares)

New Capital

SAR 400 mln

New number of shares

40 mln shares

Method

Bonus shares

Driver

supporting capital base and future expansions. 

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