Wafrah Industry and Development Co.’s fluctuation limit after capital reduction will be based on a share price of SAR 34.95, the Saudi Stock Exchange (Tadawul) said in a statement on Thursday.
The company’s shares will be suspended for 2 business days, starting today April 9, until the Securities Depository Center Co. (Edaa) reflects the capital cut on shareholders’ portfolios.
Trading suspension will be lifted on Sunday April 12, 2020.
The company’s extraordinary general assembly approved a 61.4% capital cut to SAR 77.17 million from SAR 200 million through writing off 12.28 million shares, Argaam reported.
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