Buruj deposits proceeds from fractional shares today

Buruj Cooperative Insurance Co. has sold 12,854 fractional shares on Jan. 21, 2019 at SAR 22.60 each for a total of SAR 290,500, the company said in a statement to Tadawul.

The funds will be deposited into shareholders accounts on Feb. 13, the statement added.

Last month, the company’s shareholders approved a 20 percent capital hike to SAR 300 million from SAR 250 million, through distribution of one bonus share for every five shares held, Argaam reported.