Al Sagr deposits proceeds from fractional shares sale

Al Sagr Insurance Co. concluded on Nov. 25 30 the distribution of the fractional shares resulting from the capital decrease, which was approved by the extraordinary general assembly meeting (EGM) on Oct. 13.

The fractional shares sale concluded on Nov. 7, the insurer said in a statement to Tadawul.

Al Sagr sold 7,399 shares at an average price of SAR 16.58 apiece.

In October, Al Sagr’s shareholders approved decreasing capital by 65% to SAR 140 million from SAR 400 million during the extraordinary general meeting (EGM), Argaam earlier reported.