Saudi Arabian Mining Co. (Maaden) completed today, July 9, depositing around SAR 225,484 proceeds from the sale of fractional shares into the accounts of eligible shareholders, Maaden said in a statement to Tadawul.
The company sold 5,321 shares at an average price of SAR 42.45 each.
In June, Maaden’s shareholders approved the board recommendation to increase capital by 50% through a one-for-two bonus share distribution and capitalize SAR 12.31 billion from the statutory reserve and retained earnings, according to Argaam's data.
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