Saudi Industrial Development’s fluctuation limits set at SAR 28.20 after capital reduction approval

Saudi Industrial Development Co. announced on Thursday, September 19, 2024, that its Extraordinary General Meeting (EGM) has approved the company’s request for a capital reduction.

As a result, the fluctuation limits for the company’s shares will now be based on a price of SAR 28.20. All outstanding orders will be canceled.

In line with the Saudi Exchange’s Listing Rules, the company’s shares will be suspended from trading for two business days.

The suspension will commence on Sunday, September 22, 2024, and will remain in effect until the Securities Depository Center (Edaa) reflects the capital reduction in investors’ portfolios. Trading is expected to resume at the close of Tuesday, September 24, 2024.