Riyadh Steel deposits proceeds from fractional shares sale

Logo of Riyadh Steel Co.

Riyadh Steel Co. concluded, on July 24, depositing proceeds from the sale of the fractional shares resulting from its capital increase.

The company sold 61 fractional shares at an average price of SAR 24.95 each, totaling SAR 1,521.

For more news on listed companies

Shareholders approved, in June, the board's recommendation to increase capital by 40% through a 4-for-10 bonus share distribution, raising the capital to SAR 70 million, according to Argaam's data.