MEPCO deposits proceeds from fractional shares sale

02/01/2023 Argaam
Logo ofMiddle East Paper Co.

Logo of Middle East Paper Co.

Middle East Paper Co. (MEPCO) concluded on Dec. 1, 2022, the sale of the fractional shares resulting from the company’s capital hike, and deposit to eligible investors’ accounts.

 

Details

Sale of Fractional Shares

Dec. 1, 2022

Shares Sold

14,470

Sale Proceeds

SAR 408,700

Average Price Per Share

SAR 28.25

Deposite Date

Dec. 29, 2022

 

Proceeds from the sale of fractional shares will be deposited in bank accounts linked to shareholders' investment portfolios, the company said in a statement on Tadawul today, Jan. 2.

 

MEPCO shareholders approved the board’s recommendation on a 33.3% capital increase by granting one bonus share for every three shares held, during the extraordinary general meeting (EGM) held on Nov. 24, Argaam earlier reported.

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