The Authority's Approval of the Cooperative Insurance Company's Request to Increase its Capital through the Issuance of Bonus Shares

موافقة الهيئة على طلب الشركة التعاونية للتأمين زيادة رأس مالها عن طريق منح أسهم مجانية

The Capital Market Authority approved a request from the Cooperative Insurance Company to increase its capital from SAR 1,500,000,000 to SAR 2,250,000,000 through bonus shares, at a ratio of one bonus share for every two existing shares, funded by transferring SAR 750,000,000 from retained earnings. This raises the company's share count from 150,000,000 to 225,000,000 shares, an increase of 75,000,000 shares. The extraordinary general assembly must convene within six months of the approval date, and the company must complete the related regulatory procedures.

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