CMA approves Chubb Arabia and Saudi Re capital increases

The Saudi Capital Market Authority (CMA) has given the green light to separate capital increase requests from Chubb Arabia and Saudi Re.

Saudi Re's share capital will be raised from 1 158 300 000 SAR (308 573 437 USD) to 1 698 100 000 SAR (452 377 236 USD). The transaction will be carried out through the issuance of four bonus shares for every nine ordinary shares.

For its part, Chubb Arabia is increasing its capital from 300 million SAR (79.9 million USD) to 400 million SAR (106.6 million USD) by issuing one bonus share for every three ordinary shares.