ACIG shareholders reject capital hike via rights issue

23/06/2025 Argaam
Logo ofAllied Cooperative Insurance Group (ACIG)

Logo of Allied Cooperative Insurance Group (ACIG)

Shareholders of Allied Cooperative Insurance Group (ACIG) rejected the board's recommendation to increase capital via a rights issue worth SAR 209 million during an extraordinary general meeting (EGM) on June 22, according to a statement to Tadawul.

 

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Details

Current Capital

SAR 291 mln

No. of Shares

29.1 mln

Post-Increase Capital

SAR 500 mln

No. of Shares

50 mln

Increase Percentage

71.82%

Purpose of Increase

To support the company’s future plans, enhance solvency margin, and boost investment income.

Method of Increase

Issuance of 20.9 million ordinary shares through a rights issue, at 0.7182-for-1, with a nominal value of SAR 10 each and an offering price of SAR 10 each.

Record Date

Shareholders of record on the EGM date who are registered with Edaa at the end of the second trading day following the EGM date.

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