MetLife AIG ANB Cooperative Insurance Co. will deposit SAR 234,898 in proceeds from its fractional share sale in shareholders’ portfolios on June 3.
The sale proceeds will be deposited directly by National Commercial Bank (NCB) into accounts of eligible shareholders, the company said in a statement to Tadawul on Monday.
The insurer sold 9,140 shares at an average price of SAR 25.70 each.
The sale process was completed on May 3.
Last month, the company's extraordinary general assembly approved a 48.57 percent capital cut to SAR 180 million from SAR 350 million, through the cancellation of 17 million shares, Argaam reported.
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