Bupa Arabia for Cooperative Insurance Co.’s shareholders have approved a 50 percent capital hike to SAR 1.2 billion from SAR 800 million through bonus shares, during the general assembly meeting held on Thursday.

 

The capital hike aims to strengthen capital base and support future activities.

 

Shareholders of record at the extraordinary general assembly meeting, including those registered at the Securities Depository Center two days after this date, will be eligible to receive the bonus shares.

 

In a separate statement, the Saudi Stock Exchange said the fluctuation limit for Bupa Arabia will be based on a share price of SAR 69.9. The Securities Depository Center (Edaa) will deposit additional shares into the portfolios of investors by Tuesday, Nov. 27.  
 

Key Figures of Capital Hike

Current Capital

SAR 800 mln

Number of shares

80 mln shares

Hike (%)

50% (1 for every 2 shares)

New Capital

SAR 1.2 bln

New number of shares

120 mln shares

Record date

General assembly meeting

Method

Bonus shares

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