Tadawul sets fluctuation limit for Alinma Tokio after capital cut

Alinma Tokio Marine Co.’s fluctuation limit after its capital reduction will be based on a share price of SAR 26.24, the Saudi Stock Exchange (Tadawul) said in a statement Thursday.

Trading on the company’s shares will be suspended for two days starting from Thursday, May 11, until the capital reduction is reflected on shareholders’ portfolios by the Securities Depository Center Co.

Trading will resume on Sunday, May 14. 

Alinma Tokio’s shareholders approved on Wednesday a 33.3 percent capital reduction to SAR 300 million from SAR 450 million.

The capital cut, which aims to offset accumulated loses, will result in reducing listed shares to 30 million from 45 million.