Tawuniya approves 33% capital raise

A 33% capital raise of Tawuniya insurance Company (from SAR 750m to SAR 1bn) was approved in the Extraordinary general assembly meeting that was held on 22/4/2013 to support the company's future expansions.

The Capital increase is to take place by issuing one bonus share for each three shares owned by registered shareholders as SAR 250m of retained earnings will be capitalized.

By this issuance the number of outstanding shares will be increased from 75,000,000 shares to 100,000,000 shares.