Riyadh — Mubasher: The Company for Cooperative Insurance (Tawuniya) announced the shareholders’ approval for a 50% capital increase during an extraordinary general meeting (EGM) held on 3 September 2026.
The capital hike will raise the company’s share capital from SAR 1.50 billion to SAR 2.25 billion.
The increase will be executed by capitalizing SAR 750 million from retained earnings.
Under the terms of the proposal, which received 99.23% approval, the company will issue one bonus share for every two shares currently held by investors.
Consequently, the total number of shares will increase from 150 million to 225 million.
Management stated the capital expansion aims to strengthen the company's capital base to support future growth and business expansion.
Eligibility for the bonus shares is for shareholders owning stock at the close of trading on the assembly date and registered with the Securities Depository Center (Edaa) by the end of the second trading day following the meeting.
The assembly, which saw a 58.43% attendance rate, also ratified contracts and transactions worth SAR 85.74 million involving the General Organization for Social Insurance.
These transactions, covering non-insurance service fees through the end of 2025, were approved without preferential terms.
