Riyadh – Mubasher: Saudi Arabian Mining Company (Ma’aden) deposited the proceeds from the sale of fractional shares in the accounts of eligible shareholders, according to a bourse filing.

The number of sold shares is 5,321, while the fractional shares sales revenue stands at 225,484, with an average selling price of SAR 42.45 per share.

Ma’aden highlighted that the proceeds from the sale of the fractional shares will be deposited to eligible investors’ bank accounts, linked to their investment portfolios.

Last June, the company’s shareholders agreed to increase the capital by 50% to SAR 36.91 billion from SAR 24.61 billion through bonus shares.

In the first quarter (Q1) of 2023, Ma’aden recorded an 80.69% plunge in net profit after Zakat and tax to SAR 419.41 million, compared to SAR 2.17 billion in Q1-22.