Al Ahlia to deposit proceeds from fractional shares within 10 days

20/10/2019 Argaam

 

Al Ahlia for Cooperative Insurance Co. sold 5,797 fractional shares on Sept. 25, 2019 at SAR 13.20 per share for a total of SAR 76,409, the insurer said in a statement to Tadawul.

 

The funds will be deposited into shareholders accounts within 10 days by Oct. 31, 2019, the statement added.

 

Last month, the company’s shareholders approved a 23.13 percent capital cut to SAR 123 million from SAR 160 million to offset losses, Argaam reported.

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