Al Ahlia Insurance Company shareholders have approved the board’s proposal on a 50 percent capital cut to SAR 160 million from SAR 320 million, the insurer said in a statement.
The share capital will be slashed from 32 million to 16 million shares, through cancelling 16 million shares (1-for-2).
The stock’s fluctuation limit will be based on a share price of SAR 14.06.
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