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Go hits 7M high on Wednesday

Go hits 7M high on Wednesday
(Photo Credit: Arabianeye-Reuters)
ATHEEB TELECOM
7040
9.98% 62.80 5.70

Riyadh - Mubasher: Etihad Atheeb Telecommunication (Go) extended its gains on Wednesday to record its highest since mid-August, 2016.

By 01:45pm KSA time, the stock hiked 6.76% to SAR 3.95 after exchanging 2.9 million shares at a value of SAR 11 million.

Go’s board invited the shareholders to attend the extraordinary general meeting (EGM) on 10 April.

The EGM will vote on the board’s recommendation to reduce the company's SAR capital by 60% to SAR 630 million from SAR 1.57 billion.

The company will decrease 1.2 share for every two shares through the cancellation of 94.5 million shares, according to a bourse filing on Wednesday.