Walaa to deposit proceeds from fractional shares on July 31

Walaa Cooperative Insurance Co. has sold 3,508 fractional shares on May 28, 2019 at SAR 16.69 per share for a total of SAR 58,542, the insurer said in a statement to Tadawul.

The funds have been deposited into shareholders accounts on July 31, 2019, the statement added.

Last month, Walaa Cooperative Insurance Co.’s shareholders approved a 20 percent capital hike to SAR 528 million from SAR 440 million through the issue of bonus shares, Argaam reported.