The Saudi Exchange (Tadawul) has announced that following the approval by KH's shareholders at an extraordinary general meeting on 10 February of the capital reorganization, the necessary steps to achieve the reduction have been taken effective 13 February.
Announcement of shareholder approval. As per KH's website the vote at the EGM was 100% to approve the change.
Announcement of completion of steps required to implement the capital reorganization.
On 13 February the shares opened at SAR 12.9 and closed at SAR12.10. Today they opened at SAR12 and closed at SAR12.05. Par value is SAR 10 per share so the capital reorganization and the asset infusion (CitiGroup shares) have so far achieved the goal of getting the stock to trade above par.
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