Logo of Gulf Union Alahlia Cooperative Insurance Co.
The Saudi Exchange (Tadawul) announced that Gulf Union Alahlia Cooperative Insurance Co.'s rights trading and new shares subscription will begin on May 9.
The trading period will end on May 16, while subscription will run until May 19, according to a bourse statement.
The fluctuation limits for rights trading are different from the company's fluctuation limits of share price.
Shareholders approved the board’s recommendation to increase capital through a SAR 229.5 million rights issue, during the extraordinary general assembly meeting (EGM) held on April 20, Argaam reported.
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