Chubb Arabia deposits proceeds from fractional shares sale

Chubb Arabia Cooperative Insurance Co. completed on Nov. 3, the process of depositing the proceeds from selling fractional shares resulting from the company’s capital increse in the accounts of eligible shareholders, according to a bourse filing.

The company sold 313 fractional shares on July 28, at SAR 33.40 per share for a total of SAR 10,436.

On July 14, shareholders of Chubb Arabia approved a capital increase from SAR 200 million to SAR 300 million through the issue of one bonus share for every two shares held, Argaam earlier reported.

In a separate statement, the Saudi Exchange (Tadawul) announced Chubb Arabia’s daily trading fluctuation limit will be based on a share price of SAR 36.05.

On July 26, the Securities Depository Center Co. (Edaa) deposited the additional shares into the investors’ portfolios.