SISCO deposits fractional shares after capital hike

Saudi Industrial Services Co. (SISCO) has sold 1,482 fractional shares at SAR 12.25 per share for a total of SAR 18,154.50, following its capital hike, the company said in a statement to Tadawul on Wednesday.

The funds were deposited as of June 20 in shareholders’ accounts through the Saudi British Bank (SABB).

In April, SISCO’s shareholders approved increasing capital by 20 percent to SAR 816 million, through the issue of one bonus share for every five shares held.

The capital hike is aimed at aligning the company's capital to its assets level and to finance expansions.