Riyadh – Mubasher: The extraordinary general assembly meeting (EGM) of Saudi Enaya Cooperative Insurance Company has approved the board’s recommendation to reduce the company’s capital.

The capital will be reduced from SAR 300 million to SAR 150 million, according to a statement to the Saudi Stock Exchange (Tadawul).

The capital reduction will be through reducing the number of shares from 30 million to 15 million shares, in order to write down accumulated losses of SAR 150 million.