Alhokair Group to deposit proceeds from fractional shares sale tomorrow

Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group) will complete, on Nov. 7, depositing around SAR 720,615 in proceeds from the sale of fractional shares in the accounts of eligible shareholders, according to a statement said to Tadawul.

The company sold 36,196 shares at an average price of SAR 19.90 each.

According to data compiled by Argaam, the company’s shareholders approved a 51.54% capital cut from SAR 650 million to SAR 315 million, during the extraordinary general meeting (EGM) held in October.