Amana shareholders to vote on raising capital in January
Shareholders of Amana Cooperative Insurance Co. are set to vote on raising capital to SAR 240 million through a SAR 100 million rights issue on Jan. 28, the company said in a bourse statement on Monday.
The insurer had earlier postponed its extraordinary general assembly meeting on Dec. 25 due to a lack of quorum, Argaam reported.
Key Figures of the Capital Hike
SAR 140 mln
Number of shares
14 mln shares
SAR 240 mln
Number of shares after capital hike
SAR 24 mln
Capital hike reason
To improve the company’s solvency and financial position