Advanced deposits proceeds from fractional shares sale

Advanced Petrochemical Co. completed today, April 17, depositing around SAR 2.637 million proceeds from the sale of fractional shares in the accounts of eligible shareholders, according to a bourse statement.

The company sold 37,844 shares at an average price of SAR 69.69 each.

In March, the company's shareholders approved the board’s recommendation to increase its capital to SAR 2.60 billion from SAR 2.16 billion through a 20.1% bonus issue, according to data compiled by Argaam.