CMA agrees to increase “Al-Rajhi Takaful” capital to SR 1 billion ‎by granting free shares

Capital Market Authority announced the issuance of its decision approving the request of Al-Rajhi Cooperative Insurance Company to increase its capital from 400 million riyals to one billion riyals by granting (1.5) free shares for each existing share owned by the shareholders registered in the issuer’s shareholder register at the Depository Center at the end of the year. The second trading day following the due date, which the company’s board of directors will determine its date at a later time, provided that the value of the capital increase is paid by transferring an amount of 600 million riyals from the “retained earnings” item, and thus the number of shares increases from 40 million shares to 100 million shares, an increase of 60 million shares. Provided that the date of the extraordinary general assembly meeting does not exceed six months from the date of this approval, and that the company completes the relevant legal procedures and requirements.