Saudi Arabian Cooperative Insurance Co.'s (SAICO) daily trading fluctuation limit after its capital increase will be based on a share price of SAR 14.66 as of today, the Saudi Stock Exchange (Tadawul) said in a statement.

 

The Securities Depository Center (Edaa) will deposit the additional shares into the investor’s portfolios by June 12, the statement added.

 

Last month, the Capital Market Authority approved the insurer's request to increase its capital from SAR 250 million to SAR 300 million, through the issuance of one bonus share for every five existing shares.

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