Arabian Shield deposits proceeds from fractional shares sale

Arabian Shield Cooperative Insurance Co. completed, on Aug. 15, depositing around SAR 44,232 proceeds from the sale of fractional shares in the accounts of eligible shareholders, according to a bourse statement.

The company sold 1,785 shares at an average price of SAR 24.78 each.

In June, the company's shareholders approved the board’s recommendation on a 33.3% capital hike to SAR 400 million from SAR 300 million, through bonus share distribution at one-for-three.