Halwani Bros to deposit proceeds from fractional shares sale on May 26

Halwani Bros Co. will on May 26, 2021, complete depositing the proceeds from selling fractional shares resulting from the company’s capital increase in the accounts of eligible shareholders, according to a bourse filing.

The firm sold 20,049 fractional shares on May 5, 2021, at SAR 98.67 per share for a total of SAR 1.978 million.

In April, Halwani Bros shareholders approved the board of directors’ recommendation of 12.5% capital hike from SAR 314.3 million to SAR 353.6 million by capitalizing SAR 39.3 million from the statutory reserve through one-for-eight bonus share distribution, Argaam reported.