Riyadh – The Saudi Capital Market Authority (CMA) gave the green light for Aljazira Takaful Taawuni Company to increase the capital by SAR 79.33 million through bonus shares.

The company will issue 7.93 million new shares as one bonus share for every six owned shares, according to a bourse disclosure on Thursday.

Aljazira Takaful aims to raise the capital to SAR 550 million distributed over 55 million shares, compared to SAR 470.66 million and 47.06 million shares prior to the hike.

Last June, the Saudi Central Bank (SAMA) approved the company’s request to enlarge its capital.

Source: Mubasher

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