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Tadawul announces fluctuation limit for MedGulf

Tadawul announces fluctuation limit for MedGulf
The outstanding orders will accordingly be cancelled
MEDGULF
8030
-0.20% 25.35 -0.05

Riyadh – Mubasher: Saudi Tadawul Group said the fluctuation limit for the Mediterranean and Gulf Insurance and Reinsurance Company’s (MedGulf) stock will be based on a share price of SAR 25.45, according to a disclosure on Sunday.

The outstanding orders will accordingly be cancelled.

The disclosure came as a result of MedGulf’s decision to reduce the capital by SAR 100 million, which was submitted to the Saudi Capital Market Authority (CMA) for approval last December.

Tadawul’s Securities Depository Center (Edaa) will deposit the bonus shares of the capital hike into the shareholders’ portfolios before trading starts on 26 April.