Sumou Real Estate Deposits Proceeds from Sale of Fractional Shares Following Capital Increase

Sumou Real Estate Co. announced on Tuesday the completion of the process of selling fractional shares and depositing the proceeds to eligible shareholders. This process results from the company’s capital increase as approved by the Extraordinary General Assembly held on June 6, 2024. The number of shares sold reached 1,580, generating a total amount of 63,284 riyals, with an average selling price of 40.05 riyals per share. The proceeds from the sale of fractional shares will be deposited into the accounts of eligible shareholders today, Tuesday.

The company stated that the proceeds were distributed through Banque Saudi Fransi by depositing the due amounts into the local bank accounts linked to the shareholders’ investment portfolios where Sumou Real Estate Company shares are held. If an eligible shareholder has not received their payment, they can receive it directly from any Saudi Fransi Bank branch.