Riyadh – Mubasher: Gulf Union Alahlia Cooperative Insurance Company has decreased its accumulated losses to SAR 27.85 million, which accounts for 12.14% of the capital, as on 30 June 2021, according to a bourse filing on Thursday.
The company used the entire balance of share premium worth SAR 89.45 million to reduce part of the accumulated losses from SAR 117.33 million, which represented 51.13% of the capital back then.
Gulf Union Alahlia’s board proposed last May to partially offset the accumulated losses by using the entire share premium balance.
