Riyadh –  The Saudi Stock Exchange (Tadawul) has suspended trading on the shares of United Wire Factories Company (Aslak) for two business days effective from Monday, 14 September.

The suspension came after Aslak had announced the end of the creditor objection period to reduce the capital by 20% and that no objection was received from the creditors during that period.

The Securities Depository Center Company (Edaa) will implement the capital cut decision on the shareholder’s investment portfolios, Tadawul noted.

Trading the shares will resume on Wednesday, 16 September. Outstanding orders will be cancelled and the fluctuation limits will be based on a share price of SAR 32.30.

Source: Mubasher

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