Riyadh – Mubasher: Mediterranean and Gulf Cooperative Insurance and Reinsurance’s (Medgulf) stock on Thursday decreased 3.1% to SAR 12.38 by 11:22 am KSA time, after 159,230 shares were exchanged through 219 transactions, at a value of SAR 1.96 million.

The stock’s drop occurred after the firm’s board authorised the extraordinary general meeting (EGM) to reduce its capital.

In the meantime, the Saudi Stock Exchange (Tadawul) levelled down 0.31% or 22.35 points, reaching 7,241.40 points.