Saudi Paper to deposit proceeds from selling fractional stocks

25/11/2019 Argaam

 

Saudi Paper Manufacturing Co. (SPM) sold 18,103 fractional shares at SAR 21.60 per share for a total of SAR 390.49 million.

 

The funds will be deposited into shareholders accounts in Dec. 4, 2019, according to a bourse statement on Monday.

 

Earlier in November, SPM's shareholders approved reducing capital by 62.45% to SAR 92 million to offset the accumulated losses through cancelling 15.3 million shares, Argaam reported.

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