Edaa implements procedures to reduce Salama’s capital

21/08/2022 Argaam

Logo of Salama Cooperative Insurance Co. 

The Securities Depository Center (Edaa) announced implementing a securities quantity decrease on the accounts of Salama Cooperative Insurance Co.’s eligible securities holders today, Aug. 21, according to a bourse filing.

 

Salama’s shareholders approved the board’s recommendation on a 60% capital reduction from SAR 250 million to SAR 100 million, Argaam earlier reported.

 

The stock will resume trading as of today, after being halted for two trading sessions.

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