Riyadh - Mubasher: The Company for Cooperative Insurance’s (Tawuniya) board members approved increasing the capital by 50% to SAR 2.25 billion from SAR 1.50 billion through the issuance of one bonus share for every held two shares.
The capital hike process will be executed by capitalizing SAR 750 million from retained earnings, according to a bourse filing.
Following the increase, the total number of shares will rise to 225 million from 150 million.
It is worth noting that this move aims to strengthen the company’s capital base and support its future growth and expansion plans.
The capital increase remains conditional on regulatory approvals and the extraordinary general assembly’s endorsement.
During 2025, the Saudi company recorded SAR 1.10 billion in net profits after Zakat attributable to the owners, higher by 7.93% than SAR 1.02 billion in 2024.
