Nayifat deposits proceeds from fractional shares sale

Nayifat Finance Co. concluded, on July 4, the sale of the fractional shares resulting from the company’s bonus issue, which was approved by the extraordinary general meeting (EGM) on June 18.

Nayifat sold 59,716 shares at an average price of SAR 16.9 apiece. On June 18, shareholders approved the board's recommendation to raise capital by 20% to SAR 1.2 billion, through the distribution of one share for every five held shares, according to data compiled by Argaam.