Saudi Enaya shareholders approve capital hike

13/12/2018 Argaam

Saudi Enaya Cooperative insurance Co.’s shareholders approved, on Wednesday, a 200 percent capital hike to SAR 300 million from SAR 100 million, through a rights issue, the company said in a bourse statement.

 

Key Figures of the Capital Hike

Current Capital

SAR 100 mln

Number of shares

10 mln shares

Hike (%)

200% (2 for every 1 share)

New Capital

SAR 300 mln

New number of shares

30 mln shares

Record date

Dec. 12, 2018

Driver

To improve the company's solvency margin and support the financial position 

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