Trading in Nama Chemicals suspended for two days

14/05/2017 Argaam

Trading in Nama Chemicals has been suspended for two days starting Sunday, May 14 until the Securities Depository Center completes the procedures relating to the capital cut by the end of trading day on May 15.
 

The daily trading fluctuation limit after its capital reduction will be based on a share price of SAR 20.87, the Saudi Stock Exchange (Tadawul) said in a statement on Sunday.

 

On May 11, the company’s extraordinary general assembly approved an 81.7 percent capital cut (one share for every 1.224 outstanding shares) to SAR 235.2 million from SAR 1.3 billion.

 

Accordingly, 105 million shares will be cancelled to 23.52 million from 128.52 million.

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