Edaa implements corporate action on Red Sea International

27/07/2022 Argaam

Logo of Red Sea International Co.

The Securities Depository Center Co. (Edaa) announced implementing securities quantity decrease for Red Sea International Co. into the accounts of eligible securities’ holders today, July 27, according to a bourse filing.

 

The company’s shareholders approved on June 24 the board’s recommendation to reduce capital by 49.61% from SAR 600 million to SAR 302.34 million, according to Argaam.

 

Trading will resume on the stock as of today, July 27, after a two-day trading halt.

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