Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company issued a corrective statement regarding its board of directors' recommendation to restructure the company’s capital.

The insurer clarified that the proposed capital reduction will involve a decrease of SAR 75.21 million, representing a 32.70% cut from the current capital level.

Under the revised disclosure, the company’s capital following the reduction will stand at SAR 154.79 million. The reduction is to be achieved by lowering the nominal value per share from SAR 10 to SAR 6.73.

Following this process, Saudi Enaya plans to increase its capital to SAR 314.79 million through a rights issue.

The capital hike represents a 103.37% increase from the post-reduction base, bringing the total number of shares to 46.77 million.

The company noted that the approval for both the capital reduction and the subsequent rights issue are interlinked and must be obtained during the same Extraordinary General Meeting (EGM). This announcement corrects the figures previously published on 7 July 2026.