East Pipes to deposit proceeds from fractional shares sale on Nov. 16

East Pipes Integrated Company for Industry’s will complete, on Nov. 16, depositing around SAR 387,364 proceeds from the sale of fractional shares in the accounts of eligible shareholders, according to a bourse statement.

The company sold 8,102 shares at an average price of SAR 47.83 each.

The company's shareholders approved, on Aug. 17, the board’s recommendation to increase capital by 50% from SAR 210 million to SAR 315 million, during the extraordinary general meeting (EGM), held on Oct. 19.