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Malán plans to reinforce shareholdings after price drop
Mellan Steel Products Company announced that it has received a notification from the Saudi Financial Market regarding the decline of its share price below the minimum required according to listing rules. The company intends to address this issue through a reverse stock split to raise the share price to at least 3 Riyals within a three-month period. If the share price does not improve, the company will take measures such as suspending trading or trading shares outside the platform, while acknowledging that the reverse split will reduce the total number of issued shares and increase the market value per share without affecting the company's capital.
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