Maaden deposits proceeds from fractional shares sale

Saudi Arabian Mining Co. (Maaden) completed today, July 9, depositing around SAR 225,484 proceeds from the sale of fractional shares into the accounts of eligible shareholders, Maaden said in a statement to Tadawul. 

The company sold 5,321 shares at an average price of SAR 42.45 each. 

In June, Maaden’s shareholders approved the board recommendation to increase capital by 50% through a one-for-two bonus share distribution and capitalize SAR 12.31 billion from the statutory reserve and retained earnings, according to Argaam's data.