Electrical Industries deposits proceeds from fractional shares sale

26/07/2023 Argaam

Electrical Industries' subsidiary inks SAR 153 mln supply contract with Saudi Aramco

Logo of Electrical Industries Co.

Electrical Industries Co. concluded on July 13 the sale of the fractional shares resulting from the company’s bonus issue, which was approved by the extraordinary general assembly meeting (EGM) on June 22, the company said in a statement to Tadawul.

 

Electrical Industries sold 36,757 shares at an average price of SAR 38.18 apiece, totaling SAR 1.4 million.

 

Last June, the company's shareholders approved the board’s recommendation to increase capital by 25% from SAR 450 million to SAR 562.50 million through a one-for-four bonus share distribution, according to data compiled by Argaam.

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