Walaa Insurance deposits proceeds from fractional shares sale

Walaa Cooperative Insurance Co. concluded the sale of the fractional shares resulting from the company’s capital increase, which was approved by the extraordinary general assembly meeting (EGM) on Oct. 19, according to a statement to Tadawul.

As many as 4,554 shares were sold at an average price of SAR 14.49 each, totaling SAR 65,890.

Last month, the company's shareholders approved the board’s recommendation to increase capital from SAR 646.4 million to SAR 850.6 million, according to data compiled by Argaam.