Edaa implements securities quantity decrease for Arabian Pipes

Logo of Arabian Pipes

The Securities Depository Center (Edaa) implemented securities quantity decrease for Arabian Pipes Co. on the Center’s Accounts of eligible securities’ holders today, Feb. 24.

According to data compiled by Argaam, the company’s shareholders approved reducing the company's capital by 75%, from SAR 400 million to SAR 100 million, to restructure capital in order to offset accumulated losses, during the extraordinary general assembly meeting (EGM) held on Feb. 20.