Walaa gets SAR 117,391 from share fractions sale

11/07/2018 Argaam

 

Walaa Cooperative Insurance Co. (Walaa) has sold 4,096 fractional shares for SAR 117,391, or SAR 28.66 a share, the insurer said in a bourse filing.

 

The sale proceeds will be deposited in shareholders’ accounts as of July 12, 2018.

 

Walaa approved in May the board’s recommendation on increasing capital from SAR 400 million to SAR 440 million, through a 10 percent bonus share distribution, or 1 bonus share for every ten outstanding shares.

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