United Electronics Co. (eXtra) said it will deposit the proceeds from the sale of fractional shares into shareholders’ accounts on Tuesday, June 13.
Fractional shares were sold for a total amount of SAR 65,881 at SAR 32 per share following the capital hike, the company said in a bourse statement on Monday.
eXtra’s extraordinary general assembly on May 14 approved a 16.66 percent capital increase to SAR 420 million from SAR 360 million through a bonus share issue (one share for every six shares held), according to data available on Argaam.
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