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Aljazira Takaful Taawuni Co. (Aljazira Takaful) received an approval from the Saudi Central Bank (SAMA) to raise capital from SAR 470.66 million to SAR 550 million via bonus shares (0.1686 shares for 1 share).

 

Further developments regarding this matter will be announced in a timely manner, the company said in a bourse statement.

 

On April 5, 2021, the insurer’s board of directors recommended a 16.86% capital hike to SAR 550 million from SAR 470.66 million through bonus shares to support and strengthen company’s capital base and future activities, Argaam reported.

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