Edaa applies capital reduction for SIIG
The Securities Depository Center Co. (Edaa) implemented today, May 26, a reduction in securities for Saudi Industrial Investment Group (SIIG) in the accounts of eligible shareholders.
According to data available with argaam, SIIG shareholders approved on a 10% capital decrease to SAR 6.8 billion from SAR 7.5 billion, for exceeding business needs, during an extraordinary general meeting (EGM) held recently.
Shareholders will be compensated for the cancelled shares by the distribution of SAR 754.8 million, at the rate of SAR 10 per cancelled share.
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