Wafrah to deposit proceeds from fractional shares on May 21

07/05/2020 Argaam

Wafrah for Industry & Development Co. (Wafrah) sold 20,219 fractional shares on April 29, 2020 at SAR 34.17 per share for a total of SAR SAR 689,816, the company said in a statement to Tadawul.

 

The funds will be deposited into shareholders accounts on May 21, 2020, the statement added.

 

Last month, the company’s shareholders approved the board's recommendation to cut capital by 61.4% from SAR 200 million to SAR 77.17 million to offset accumulated losses, Argaam reported.

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