Saudi Re BOD Recommends raising Capital by Offering Right Issue

Saudi Re announces the Board recommendation to increase the company’s capital to SR 445.5 million by offering right issue.

The company attributes this decision to strengthen its capital base and support its future expansion activities.

Shareholders holding shares on the date of the Extraordinary General Assembly meeting in which capital increase through the issuance of right issues was resolved whose names so appear in the register of the Issuer’s Shareholders at the Depository Center at the end of the second trading day following the date of the General Assembly’s Meeting.

It added that the raise is subject to Saudi Central Bank and Capital Market Authority and other regulatory authorities’ approvals in addition to Extraordinary General Assembly approval.