Gulf Union shareholders to vote on capital hike on Jan. 27
06/01/2019
Argaam
Gulf Union Cooperative Insurance Co.’s shareholders are set to vote on a proposed capital hike to SAR 241.94 million from SAR 150 million by issuing 9.194 million ordinary shares, on Jan. 27, 2019, the company said in a bourse statement.
The step aims to acquire all the shares of Al-Ahlia Insurance Co. through securities exchange.
|
Key Figures of Capital Hike |
|
|
Current Capital |
SAR 150 mln |
|
Number of shares |
15 mln |
|
Hike (%) |
61.3% |
|
New Capital |
SAR 241.94 mln |
|
New number of shares |
24.19 mln |
|
Record date |
After the end of Al Ahlia’s creditors objection period |
Market Indices
TASI
10,542.23
(47.72)
(0.45 %)
Quotes
GULF UNION ALAHLIA
12.56
(0.05)
(0.40%)
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