Gulf General to refund SAR 57.59 mln to eligible rights holders

Gulf General Cooperative Insurance Co. will pay SAR 57.59 million in refunds to the rights holders, who did not subscribe to new shares, as of today, Aug. 12, according to a bourse filing.

The Saudi insurer will deposit the amount in the bank accounts of eligible rights holders, who did not subscribe to new shares and are entitled to fractional shares, the statement added.

Eligible rights holders, whose bank account details are not available or incomplete, should visit the head office of the company or contact the Investor Relations via email or telephone.

In July, the company offered 30 million shares at SAR 10 per share, with a total value of SAR 300 million, in order to increase its capital from SAR 200 million to SAR 500 million, according to data compiled by Argaam.