Riyadh – Mubasher: The Saudi Exchange (Tadawul) has announced a revision to the daily fluctuation limits for Atlas Elevators General Trading and Contracting Company after concluding its Extraordinary General Meeting (EGM), according to a bourse filing.
The adjustment sets a new reference price for the stock, following the approval of a 50% capital increase through the issuance of bonus shares to the company’s shareholders.
As a direct result of this approved capital restructuring, Tadawul implemented standard technical adjustments to the stock’s trading parameters for the session that commenced on 21 June 2026. The fluctuation limits for Atlas Elevators will be calculated based on a revised reference of SAR 9.99 per share. This price reset is intended to reflect the dilution of the share price following the issuance of new equity, ensuring that the daily percentage limits for price movements are applied to a relevant and accurate baseline.
Atlas Elevators convened its EGM to deliberate on several corporate items, most notably the proposal to expand the company’s capital base. During the session, shareholders provided the necessary regulatory approval to proceed with a capital increase via the distribution of bonus shares.
The corporate action is a strategic move typically employed by listed entities to capitalize reserves or retained earnings, thereby increasing the total number of outstanding shares while adjusting the individual share price to maintain the company’s overall market valuation.
In conjunction with the price adjustment, Tadawul confirmed that all outstanding orders for the company’s shares remaining in the system prior to the adjustment have been canceled. This is a standard procedural requirement in the event of a capital change, preventing the execution of trades based on outdated valuations.
Market participants are required to submit new orders aligned with the updated reference price and the new share structure during the next trading session.
The administrative and technical execution of the share distribution will be managed by the Securities Depository Center (Edaa).
Following the approval at the EGM, Edaa is responsible for the formal allocation and electronic deposit of the bonus shares into the investment portfolios of eligible shareholders. Tadawul indicated that this process is completed by the end of 23 June 2026. Once the deposit is finalized, shareholders will see the additional shares reflected in their accounts, completing the capital increase cycle.
The implementation of these adjustments ensures that the trading of Atlas Elevators remains orderly and transparent following its corporate restructuring.
By resetting the fluctuation limits and canceling previous orders, the Saudi Exchange maintains market integrity, allowing the stock to find its new equilibrium price in light of the increased share supply.
The timely deposit of shares by Edaa further ensures that investor holdings are updated in accordance with the resolutions passed during the Extraordinary General Meeting.
