Alasmak deposits fractional shares proceeds into shareholders’ accounts

Saudi Fisheries Co. (Alasmak) said it has deposited proceeds of fractional shares into shareholders’ accounts on Thursday, May 18, following its capital cut.

Fractional shares were sold for a total amount of SAR 112,743 at SAR 25.90 per share, the company said in a bourse statement on Thursday.

Alasmak’s extraordinary general assembly on April 19 approved a 62.64 percent capital reduction to SAR 200 million from around SAR 535 million, by cancelling 33.54 million outstanding shares.