The Saudi Arabia Capital Markets Authority approved Saudi Reinsurance Company’s request to increase its capital from SAR 1,158,300,000 to SAR 1,698,100,000 through the issuance of bonus shares. The capital increase will be implemented by issuing four bonus shares for every nine existing shares held by shareholders registered in the shareholders registry at the Securities Depository Center as of the close of the second trading day after the due date, which will be determined later by the company’s board. The increase will be funded by transferring SAR 539,800,000 from retained earnings to share capital, increasing outstanding shares from 115,830,000 to 169,810,000, an increase of 53,980,000 shares. An extraordinary general assembly must be held within six months from the approval date, and the company is required to satisfy all regulatory requirements and applicable laws.
Saudi Arabia Capital Markets Authority 2025-09-08
Saudi Arabia Capital Markets Authority approves Saudi Reinsurance 4-for-9 bonus-share capital increase to SAR 1,698,100,000
The Saudi Arabia Capital Markets Authority has approved Saudi Reinsurance Company's capital increase from SAR 1,158,300,000 to SAR 1,698,100,000 through the issuance of bonus shares. The increase involves issuing four bonus shares for every nine existing shares, funded by transferring SAR 539,800,000 from retained earnings. This will raise the number of outstanding shares from 115,830,000 to 169,810,000.