Edaa implements Fawaz Alhokair’s capital cut measures

Logo of Fawaz Abdulaziz Alhokair Co.

The Securities Depository Center Co. (Edaa) implemented today, July 4, Fawaz Abdulaziz Alhokair Co.’s capital reduction measures, by reducing the quantity of shares in the eligible shareholders’ accounts.

The fashion retailer’s shareholders approved on June 29 the board of directors’ recommendation to reduce capital to SAR 1.15 billion to offset accumulated losses, Argaam earlier reported.

Fawaz Alhokair shares will resume trading today after a two-session halt.