Gulf Union deposits fractional shares after capital cut

22/06/2017 Argaam

Following its capital reduction, Gulf Union Cooperative Insurance Co. has sold5,507  fractional shares at SAR 16.64 per share for a total of SAR 91,636, and deposited the funds on Tuesday in the shareholders’ accounts, the insurer said in a statement to Tadawul.

 

In May, Gulf Union’s general assembly approved cutting capital to SAR 150 million from SAR 220 million to offset accumulated losses. 

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