Saudi Re to deposit fractional shares sale funds on Jan. 28

21/01/2018 Argaam

 

Saudi Re for Cooperative Reinsurance Co. (Saudi Re) on Sunday said it sold 45,614 fractional shares on January 10, at SAR 8.56 per share for a total of SAR 389,873.

 

The funds will be deposited in shareholders’ accounts on January 28, the company said in a statement to Tadawul.

 

Earlier this month, Saudi Re’s general assembly approved a 19 percent capital reduction, to SAR 810 million from SAR 1 billion, in order to restructure capital, offset accumulated losses, and support future growth, Argaam reported.

 

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