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09/11/2017 15:58 AST
The CMA has issued its resolution approving Saudi Re for Cooperative Reinsurance Company's request to reduce its capital from SAR (1,000,000,000) to SAR (810,000,000), thus reducing the number of shares from (100,000,000) shares to (81,000,000) shares. This approval is conditional on the Company's extraordinary general assembly approval and completion of the necessary procedures in relation to the applicable regulations.
The Company will publish a disclosure document to its shareholders related to the proposed method of capital reduction and the expected effect of such reduction within sufficient time prior to the Extraordinary General Assembly Meeting to enable shareholders to vote on the capital decrease.
The CMA's approval of a particular company's application to reduce its capital should never be viewed as an endorsement of the feasibility of the capital decrease. The CMA's approval of a company's application to reduce its capital merely means that the regulatory requirements as per the Capital Market Law and its Implementing Regulations have been met.
Press Release
08/10/2017
Following announcement on 01-10-2017, with regards to the Shareholder Agreement signed with Probitas Holdings (Bermuda) Limited (PHBL), Saudi Re is pleased to announce the completion of transaction a
Tadawul
27/09/2017
Following announcement on 30-07-2017, with respect to Saudi Re announcing signing off a Shareholder Agreement with Probitas Holdings (Bermuda) Limited (PHBL), through which Saudi Re will purchase 49.
Tadawul
01/07/2015
Standard & Poor's Ratings Services affirmed its 'BBB+' long-term issuer financial strength and counterparty credit ratings on Saudi Re for Cooperative Reinsurance Co (Saudi Re). The outlook remains s
CPI Financial
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| BUPAARABIA | 178.80 | 0.20 (0.11 |
| TAWUNIYA | 143.60 | -1.00 (-0.70 |
| ALRAJHITAKAFUL | 123.80 | -0.20 (-0.17 |
| QATI | 1.98 | 0.01 (0.50 |
| RASAN | 85.50 | -0.80 (-0.93 |
16/05/2025
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Trade Arabia
16/05/2025
Abraj Energy Services has signed a contract with BP Oman to provide a drilling rig for operations in Block 61, with the rig expected to become operational in the fourth quarter of 2025.
The
Muscat Daily
16/05/2025
Commercial Bank, a leader in innovative digital banking solutions, has unveiled its all-new Corporate Mobile Banking App, setting a new standard for business banking in the region.
This stat
Gulf Times
16/05/2025
Emirates NBD is rolling out a new AI-driven solution to strengthen its compliance checks on payments and trade transactions, as part of a wider effort to improve safety, speed, and transparency in fi
Gulfnews
16/05/2025
In line with its leading and responsible role in the banking industry, National Bank of Kuwait continues to advance confidently towards building a sustainable future by implementing its environmental
Kuwait Times
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia