SNIC Insurance sells 1 mln shares in Wataniya Insurance to Juffali for SAR 16.5 mln

Logo of Wataniya Insurance Co.

Wataniya Insurance Co. received letters from Juffali and SNIC Insurance Co., stating that the latter sold one million shares, representing 2.5% of Wataniya’s capital, to Juffali, in an off-market trading transaction valued at SAR 16.5 million (SAR 16.5 per share). 

Accordingly, SNIC Insurance’s stake in Wataniya fell from 27.5% to 25%, the Tadawul-listed insurer said in a bourse statement. 

Meanwhile, Juffali's stake in Wataniya increased from 8.63% to 11.12%.