The General Assembly of Naseej International Trading Company agreed to reduce the company's capital from 178 million riyals to 61 million riyals, with a reduction of 65.4%, in order to extinguish the accumulated losses of 116 One million riyals
According to Arabiya Net, the number of shares after the reduction will reach 6.1 million shares, and the decision to decrease will be enforceable on all the shareholders of the company registered in the company's records with the Securities Depository Center Company ( Deposit center) at the end of the second trading day following the holding of the extraordinary general assembly in which the capital was decided to be reduced.
Tadawul also announced that the volatility of the company's share will be calculated based on a price of 124.40 riyals, and that the company's share will be suspended trading based on the listing rules for a period of two business days. Starting today, Monday, the Securities Depository Center Company will implement the reduction of Naseej International Trading Company shares in the shareholders ’investment portfolios, provided that the suspension of trading the company's shares will be lifted at the end of trading on Tuesday.
