Enaya gives green light for 50% capital cut

19/10/2016 Argaam

Enaya Insurance Co.’s general assembly approved a 50 percent capital reduction from SAR 400 million to SAR 200 million, the insurer said in a statement.

 

Capital Reduction Details

Current capital

SAR 400 mln

No. of shares

40 mln

Capital reduction

50% (one share for every two shares)

Capital after reduction

SAR 200 mln

No. of shares after reduction

20 mln

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