Buruj shareholders to vote on capital hike on Jan. 14

13/12/2018 Argaam

Buruj Cooperative Insurance Co.’s shareholders are set to vote on a proposed 20 percent capital hike to SAR 300 million from SAR 250 million, on Jan. 14, 2019, the company said in a bourse statement.

 

 The step aims to support the capital base to assist in increasing growth rate and business expansion. 

 

Key Figures of Capital Hike

Current Capital

SAR 250 mln

Number of shares

25 mln

Hike (%)

20% (1 share for every 5 shares)

New Capital

SAR 300 mln

New number of shares

30 mln

Record date

General assembly meeting

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