Tadawul halts trading on Maadaniyah for two business days

24/11/2021 Argaam

Logo of National Metal Manufacturing and Casting Co.

The daily trading fluctuation limit of National Metal Manufacturing and Casting Co. (Maadaniyah) after its capital reduction will be based on a share price of SAR 25.75 and the outstanding orders will be canceled, Saudi Exchange (Tadawul) said in a statement.

 

Trading on the company’s shares will be halted for two business days, starting today, Nov. 24, until the Securities Depository Center Co. (Edaa) completes the corporate action process. 

 

The Securities Depository Center (Edaa) will deposit the rights into investors’ portfolios by Nov. 28, the statement added.

 

Maadaniyah shareholders approved, on Nov. 23, the board of directors’ recommendation on 16.76% capital decrease to SAR 234 million to offset SAR 47.12 million accumulated losses, Argaam reported.

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