Saudi Arabian Cooperative Insurance Co.’s (SAICO) general assembly has approved a 20 percent capital hike to SAR 300 million from SAR 250 million through the issue of one bonus share for every five shares held, the company said in a statement on Tadawul.
The capital increase will be paid by transferring an amount of SAR 50 million from the retained earnings account to the company's capital, the statement added.
Key Figures of the Capital Hike
SAR 250 mln
Number of shares
25 mln shares
20% (one share for every 5 shares)
SAR 300 mln
New number of shares
30 mln shares
June 7, 2018
Matching the company’s growth and boosting solvency margin