‎Bupa Arabia board proposes capital increase to SAR 1.5 bln via 25% bonus issue

‎Bupa Arabia board proposes capital increase to SAR 1.5 bln via 25% bonus issue

Bupa Arabia for Cooperative Insurance Co.’s board of directors recommended increasing the company’s capital to SAR 1.5 billion from SAR 1.2 billion, through a 25% bonus shares offering, the insurer said in a statement to Tadawul today, June 13.

Each shareholder will be granted 1 bonus share for every four share owned on the eligibility date.

The capital increase and the bonus share distribution are subject to the approval of the competent authorities as well as the company's extraordinary general meeting (EGM).

In the case of fractional bonus shares, these shares will be collected into one investment portfolio and will be sold at market price within 30 days on a pro rata basis from the date of determining the allocation of new shares for each shareholder, the company noted.

Bupa Arabia’s shareholders are set to vote on a 45% cash dividend for 2021, at SAR 4.5 per share, during the extraordinary general assembly meeting (EGM) slated for June 30, Argaam earlier reported.