Logo of Chubb Arabia
Chubb Arabia Cooperative Insurance Co. (Chubb Arabia) obtained on April 6, 2021, the approval of the Saudi Central Bank (SAMA) to increase the company’s capital through bonus shares, the firm said in a statement to Tadawul.
In March, Chubb Arabia’s board of directors recommended a 50% capital hike to SAR 300 million from SAR 200 million by capitalizing SAR 100 million from retained earnings account, granting one share for every two shares owned, Argaam reported.
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Key Figures of the Capital Hike |
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Current Capital |
SAR 200 mln |
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Number of shares |
20 mln |
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Hike (%) |
50% (1 share for every 2 outstanding shares) |
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New Capital |
SAR 300 mln |
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New number of shares |
30 mln |
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Record date |
At the end of trading of general assembly meeting day (to be announced), and shareholders registered with the Securities Depository Center (Edaa) at the end of the second trading day following the eligibility date |
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Driver |
Support company’s financial position and future expansions |
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