Edaa implements capital reduction on Savola

Logo of Savola Group

The Securities Depository Center Co. (Edaa) applied the reduction in the number of Savola Group shares to the accounts of eligible shareholders today, Dec. 17, according to a Tadawul statement.

Shareholders approved on Dec. 12 the board’s proposal to cut capital by 73.54% from SAR 11.33 billion to SAR 3 billion, data compiled by Argaam showed.

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The fluctuation limit was calculated for Savola based on a price of SAR 27.80, and the stock was halted for two business days starting from Dec. 15 as per the listing rules.