Al Hammadi deposits proceeds from fractional shares sale today

Al Hammadi Company for Development and Investment completed on June 29 the sale of the fractional shares resulting from the company’s bonus issue to capital increase, which was approved by the extraordinary general assembly meeting (EGM) on June 20.

Al Hammadi completed depositing around SAR 383,597 proceeds from the sale of fractional shares in the accounts of eligible shareholders, according to a bourse statement.

The company sold 10,442 shares at an average price of SAR 36.80 each.

Last month, Al Hammadi shareholders approved the board of directors’ recommendation to increase capital to SAR 1.6 billion from SAR 1.2 billion through a 33.3% bonus issue, Argaam reported.