Tadawul to suspend company shares on late capital hike approval

The Saudi Stock Exchange (Tadawul) said that in the event a company’s extraordinary general assembly meeting (EGM) approves a capital hike during the month of Ramadan and the details are communicated at a late hour, trading of the firm’s shares will be suspended in the session following the EGM to reflect the capital increase.

Trading will resume in the next session.

The bourse has also urged companies to consider holding EGMs to approve capital increases at earlier times during Ramadan, so that the capital increase can be reflected without having to suspend the trading of company's shares.