Tadawul sets fluctuation limit for Atheeb after capital cut

14/02/2018 Argaam

 

Etihad Atheeb Telecommunication Co.'s fluctuation limit after capital reduction will be based on a share price of SAR 7.73, the Saudi Stock Exchange (Tadawul) said in a statement on Wednesday.

 

Trading on the company's shares will be suspended for two business days starting Wednesday, Feb. 14, until the Securities Depository Center (Edaa) reflects the capital cut on shareholders’ portfolios.

 

Atheeb Telecom’s extraordinary general assembly approved the capital reduction on Feb. 13.

 

Last month, the telco’s board had recommended a 25 percent capital reduction to SAR 472.5 million from SAR 630 million to offset accumulated losses, data compiled by Argaam showed.

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