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Al-Khaleejiya Al-'Amma' suggests capital restructuring to cover losses
Al Khaleejia Cooperative Insurance Company has recommended restructuring its capital with the aim of offsetting accumulated losses. The plan involves reducing the capital by 58.67%, from 300 million riyals to 124 million riyals, followed by a re-increase through the issuance of new shares and converting major shareholders' debts into common shares. These measures are intended to strengthen shareholders’ equity and improve the financial structure without affecting the company's obligations or operational performance, with an expectation that Bluefive will acquire a 42% stake in the capital once the implementation is completed.
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