Alhokair Group to deposit proceeds from fractional shares sale on Sept. 15

Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group) will complete, on Sept. 15, depositing around SAR 823,439.96 in proceeds from the sale of fractional shares in the accounts of eligible shareholders, according to a bourse statement.

The company sold 34,227 shares at an average price of SAR 24.10 each.

According to data compiled by Argaam, the company’s shareholders approved in July a 37.64% capital cut to SAR 343 million from SAR 550 million by cancelling 20.7 million shares.