Saudi Aramco deposits proceeds from fractional shares sale

Logo of Saudi Aramco

Saudi Arabian Oil Co. (Saudi Aramco) deposited today, June 5, proceeds from the sale of fractional shares resulting from capital increase in the accounts of eligible shareholders.

The company distributed one bonus shares for every 10 shares held, as approved by the extraordinary general meeting held on May 8.

Saudi Aramco sold 387,850 shares at a total of SAR 12.99 million. The average selling price per share stood at SAR 33.50.

The company’s shareholders approved raising capital to SAR 90 billion from SAR 75 million through capitalizing SAR 15 billion from retained earnings and distributing 1-for-10 bonus shares, Argaam reported.