eXtra to deposit proceeds from fractional shares sale on Oct. 27

Logo of United Electronics Co.

United Electronics Co. (eXtra) concluded, on Oct. 11, the sale of fractional shares resulting from the company’s capital increase, which was approved by the extraordinary general meeting (EGM) on Oct. 5.

The company will deposit the sale proceeds into shareholders' accounts on Oct. 27.

As many as 9,488 shares were sold at an average price of SAR 81.29 each, totaling SAR 771,300.

Earlier this month, shareholders approved a capital increase of SAR 200 million, or 33.33%, from SAR 600 million to SAR 800 million, according to data available with Argaam.