AlJazira Takaful deposits proceeds from fractional shares sale

AlJazira Takaful Taawuni Co. concluded on Oct. 2 the sale of the fractional shares resulting from the company’s bonus issue, which was approved by the extraordinary general assembly meeting (EGM) on Sept. 25.

The company sold 21,226 shares at an average price of SAR 15.99 apiece, for a total of SAR 338,710.

Proceeds of the sale were deposited into eligible investors’ accounts as of yesterday, Oct. 22, the company said in a statement to Tadawul.

Last September, the company's shareholders approved the board recommendation to increase capital by 20% via a 1-for-5 bonus share distribution, according to data compiled by Argaam.