Wafa Insurance’s shares reduction reflects on investors’ portfolios

19/06/2017 Argaam

The Saudi Indian Company for Cooperative Insurance’s (Wafa Insurance) shares reduction is reflected on shareholders’ portfolios on Monday, the Securities Depository Center (Edaa) said in a statement on Tadawul.

 

Wafa Insurance’s general assembly on June 15 approved a 40.5 percent capital reduction (1.215 shares for every three shares) to SAR 122 million.

 

The capital cut is aimed at offsetting accumulated losses and supporting future growth. 

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