Edaa implements capital reduction on Al-Baha

24/12/2024 Argaam
Logo ofAl-Baha Investment and Development Co.

Logo of Al-Baha Investment and Development Co.

The Securities Depository Center Co. (Edaa) applied the reduction in the number of Al-Baha Investment and Development Co.’s shares to the accounts of eligible shareholders today, Dec. 24, according to a Tadawul statement.

 

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Shareholders approved on Dec. 19 the board’s proposal to cut capital by 26.5% from SAR 297 million to SAR 218.30 million, data compiled by Argaam showed.

 

The fluctuation limits were calculated for Al-Baha based on a price of SAR 0.44, and the stock was halted for two business days starting from Dec. 22 as per the listing rules.

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