Wafa to deposit proceeds from fractional shares on Sept.17

05/09/2018 Argaam

 

Saudi Indian Cooperative Insurance Co. (Wafa) sold 6,532 fractional shares on June 26, 2018 at SAR 14.20 per share for a total of SAR 92,754, the company said in a statement to Tadawul.

 

The funds will be deposited into shareholders accounts on Sept. 17, 2018, the statement added.

 

In June, the insurer’s general assembly approved an 18.03 percent capital reduction to SAR 100 million from SAR 122 million through the cancellation of 2.2 million shares to offset losses, Argaam reported.

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