Saudi Ceramic deposits proceeds from fractional share sale

Following its capital increase, Saudi Ceramic Co. (SCC) on May 7 sold 741 fractional shares at SAR 21.66 per share for a total of SAR 16,050, and deposited the funds in the shareholders’ accounts on May 23, the company said in a statement to Tadawul on Thursday.

Late in April, SCC’s extraordinary general assembly approved a 20 percent capital hike to SAR 600 million from SAR 500 million through the issue of one bonus share for every five shares held, Argaam reported earlier.