Alandalus to deposit proceeds from fractional shares sale on Sept. 19

Alandalus Property Co. will, on Sept. 19, complete depositing the proceeds from selling fractional shares resulting from the company’s capital increase in the accounts of eligible shareholders, according to a bourse filing.

The company sold 11,714 fractional shares, on Aug. 31, at SAR 22.02 per share for a total of SAR 257,572.

Al-Andalus Property’s shareholders approved in August the board of directors’ recommendation to increase capital to SAR 933.33 million from SAR 700 million via one-for-three bonus share distribution.