Saudi Enaya to deposit proceeds from fractional shares on July 12

Saudi Enaya Cooperative Insurance Co. has sold 1,567 fractional shares on July 4, 2018 at an average price of SAR 25 per share for a total of SAR 39,175, the company said in a statement to Tadawul.

The funds will be deposited into shareholders accounts on July 12, 2018, the statement added.

In June, the company’s extraordinary general assembly has approved a 50 percent capital reduction to SAR 100 million from SAR 200 million through the cancellation of 10 million shares to offset accumulated losses, Argaam reported.