Tawuniya increases its share capital

Tawuniya has obtained approval from the Saudi Capital Market Authority (CMA) to increase its share capital from 1.5 billion SAR (393.5 million USD) to 2.25 billion SAR (590.3 million USD).

The capital increase will be implemented through the capitalization of 750 million SAR (196.8 million USD) from retained earnings, resulting in the distribution of one bonus share for every two shares held.

According to the CMA, the Saudi insurer is required to hold its Extraordinary General Meeting within six months from the date of approval. The company must also comply with all regulatory requirements and applicable laws.