Shaker deposits proceeds from fractional shares sale on June 23

Al Hassan Ghazi Ibrahim Shaker Co. completed on June 23 the sale of the fractional shares resulting from the company’s capital reduction, which was approved by the extraordinary general assembly meeting (EGM) on May 15.

Shaker completed depositing around SAR 212,204 proceeds from the sale of fractional shares in the accounts of eligible shareholders, according to a bourse statement.

The company sold 10,647 shares at an average price of SAR 19.93 each.

Shaker’s board of directors in September 2021 recommended a 25% capital cut from SAR 630 million to SAR 472.5 million through writing off 15.75 million shares (one share for every four shares), Argaam reported.

Tweet: Al Hassan Ghazi Ibrahim Shaker Co. completed on June 23 the sale of the fractional shares resulting from the company’s capital reduction