The Securities and Commodities Authority issued an alert about what has been published and circulated through some accounts on social media regarding the fact that one of the authorities sent a warning to investors related to reducing the nominal value of the shares of one of the general joint stock companies listed, stressing that this issue is currently under study with the authority.
The authority said through its official account on the “X” platform: “This mechanism is one of the methods of reducing the capital specified in the corporate law and requires a special decision by the company’s general assembly, and the commission also notes that the effects that have been circulated in this regard are only incorrect rumors.”
The Securities and Commodities Authority called on investors not to be drawn into that false information, and to draw information from its correct sources, and the authority also reserves its right to take all legal measures against those responsible for publishing and circulating the published warning.
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