Al Kathiri Holding deposits proceeds from fractional shares

Al Kathiri Holding Co. completed today, July 28, depositing the proceeds from selling fractional shares resulting from the company's capital increase in the accounts of eligible shareholders, according to a bourse filing.

The bank sold 1,472 fractional shares on June 30, at SAR 83.54 per share, for a total of SAR 122,979.

The company's board of directors recommended, on March 8, a 25% capital hike to SAR 113.02 million from SAR 90.42 million through the issuance of bonus shares at 25%, Argaam earlier reported.

The capital hike aims to support the financial position of the company and its future expansions.