Saudi Indian Company for Cooperative Insurance’s (Wafa Insurance) fluctuation limit after capital reduction will be based on a share price of SAR 22.26, the Saudi Stock Exchange (Tadawul) said in a statement on Thursday.
Meanwhile, the insurer’s shares will be suspended for two business days, starting Thursday, June 15 until the Securities Depository Center (Edaa) updates shareholder portfolios to reflect the capital reduction.
The insurer’s extraordinary general assembly approved on Wednesday cutting capital by 40.5 percent to SAR 122 million, Argaam earlier reported.
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