AMAK deposits proceeds from fractional shares after capital hike

Al Masane Al Kobra Mining Co. (AMAK)  concluded today, Sept. 4, the sale of the fractional shares resulting from the company’s capital raise, which was approved by the extraordinary general meeting (EGM) on Aug. 1.

In August, AMAK shareholders approved raising the company’s capital by 36.36% to SAR 900 million from SAR 660 million, through a bonus issue by capitalizing SAR 240 million from the SAR 508.59 million share premium, Argaam reported.