SIECO to deposit proceeds from fractional share sale Feb. 1

25/01/2018 Argaam

 

Saudi Industrial Export Co. (SIECO) will deposit SAR 115,909 in proceeds from its fractional share sale in shareholders’ portfolios on Feb. 1, 2018.

 

The sale proceeds will be deposited directly by SABB Bank into accounts of eligible shareholders, the company said in a statement to Tadawul on Thursday.

 

SIECO sold 813 shares at an average price of SAR 142.80 each.

 

The sale process was completed on Jan. 14.

 

Last month, the company's general assembly approved a 90 percent capital cut to SAR 10.8 million from SAR 108 million, to restructure capital and offset accumulated losses.

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