Al Ahlia to deposit fractional shares proceeds into shareholder accounts April 19

Al Ahlia Cooperative Insurance will deposit proceeds from selling 2,029 fractional shares worth SAR 23,333 into the accounts of shareholders on April 19 via Samba Financial Group.

The average share price was estimated at SAR 11.50, the company said in a statement to Tadawul Tuesday.

Fractional shares were sold on March 14.

The insurer had earlier approved a 50 percent capital cut to SAR 160 million, through cancelling 16 million shares (1-for-2), Argaam earlier reported.