Mobile Telecommunication Company Saudi Arabia (Zain Saudi) sold 186,552 fractional shares on Oct. 19, 2020 at SAR 13.76 per share, totaling SAR 2.56 million, the company said in a bourse statement.
Zain Saudi deposited funds into shareholders accounts on Nov. 5, 2020.
The proceeds from fractional shares will be deposited directly through Al Rajhi Bank into the investment accounts of the eligible shareholders.
Last month, the company’s shareholders approved a 23% capital cut to SAR 4.48 billion from SAR 5.83 billion during the extraordinary general meeting (EGM) held on Oct. 8, 2020.
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Details of Selling Fractional Shares |
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Date of Selling Fractional Shares |
Oct. 19, 2020 |
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No. of Shares Sold |
186,552 shares |
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Proceeds from Selling Fractional Shares |
SAR 2.56 mln |
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Average selling price |
SAR 13.76 |
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