Retal deposits proceeds from fractional shares sale

Retal Urban Development Co. concluded on July 27 the sale of the fractional shares resulting from the company’s bonus issue, which was approved by the extraordinary general meeting (EGM) on July 20.

Retal sold 11,499 shares at an average price of SAR 9.06 apiece, totaling SAR 104,180.

In July, the company's shareholders approved the board’s recommendation to increase capital by 25% from SAR 400 million to SAR 500 million through bonus share distribution, according to data compiled by Argaam.