Riyadh – Mubasher: Wataniya Insurance announced that it will start refunding the shareholders on record who did not participate in the right issue subscription totally or partially on 5 September.

The total amount that will be distributed over the registered shareholders is SAR 2.6 million, according to a bourse filing.

Arab National Bank Investment Co, the financial consultant and subscription manager of Wataniya Insurance’s right issue, was assigned to deposit the refund amounts in the shareholders’ accounts.

The company’s extraordinary general meeting (EGM) approved on 31 July doubling the company’s capital, to SAR 200 million from SAR 100 million, through selling 10 million rights issue shares at SAR10 per share.