Edaa implements capital reduction on Saudi Fisheries

Logo of Saudi Fisheries Co. (SFICO)

The Securities Depository Center Co. (Edaa) applied the reduction in the number of Saudi Fisheries Co.’s (SFICO) shares to the accounts of eligible shareholders today, Jan. 29, according to a Tadawul statement.

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Shareholders recently approved the board’s recommendation to cut capital by 83.25% from SAR 400 million to SAR 66.99 million, data compiled by Argaam showed.

The fluctuation limit for the stock was calculated based on a price of SAR 146.20, while trading was halted for two business days starting Jan. 27 as per the listing rules.