Wafa Insurance to begin paying SAR 24.4 mln in refunds

13/05/2015 Argaam

Saudi Indian Company for Cooperative Insurance (Wafa Insurance) will begin paying SAR 24.4 million in refunds to subscribers who waived their rights as of Wednesday May 13, the company said in a statement.

 

Wafa Insurance recently raised its capital to SAR 205 million in a SAR 105 million rights issue. Around 10.5 million shares were sold at an individual price of SAR 10.

 

Allotments were said to be transferred to shareholders’ bank accounts in Banque Saudi Fransi (BSF).

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