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Dar Al-Murakkaba stock drops below minimum
Dar Al-Murababa Car Rental Company has announced that it has received a notice from the Saudi Financial Market indicating that the average closing price of its shares has fallen below the minimum required in accordance with applicable regulations. This puts the company's shares at risk of being suspended from trading on the main platform. The company has decided to take corrective actions, including a share consolidation (reverse split) to increase the share price to the targeted level of 3 Saudi riyals within a three-month period, in order to ensure continued normal trading. If the share price does not increase naturally, a special general assembly will be convened to approve the consolidation, which will not affect the company's total capital but will reduce the number of issued shares. Should the company fail to meet these conditions within the specified period, trading of the stock may be suspended and it may be delisted from the main platform.
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