Aljazira Takaful deposits proceeds from fractional shares following capital increase

Aljazira Takaful Taawuni Co. completed, on Dec. 29, 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 bank sold 21,823 fractional shares on Dec. 7, at SAR 22.18 per share, for a total of SAR 484,027.

Aljazira Takaful’s shareholders approved the board of directors’ recommendation to increase capital to SAR 550 million from SAR 470.66 million through 16.86% bonus shares, during the extraordinary general assembly meeting (EGM) held on Nov. 30, Argaam reported.