AICTEC deposits proceeds from fractional shares sale

Advance International Company for Communication and Information Technology (AICTEC) concluded on July 5 the sale of the fractional shares resulting from the company’s bonus issue, which was approved by the extraordinary general assembly meeting (EGM) on June 20.

AICTEC sold 117 shares at an average price of SAR 68.73 apiece, totaling SAR 8,042.

Last June, the company's shareholders approved the board’s recommendation to increase capital by 28% from SAR 25 million to SAR 32 million through bonus share distribution, according to data compiled by Argaam.