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Al-Fakhariya Advocates Capital Restructuring
The Saudi Pipe Industries Company ("Fakhariya") has decided to reduce its capital by 56.86%, decreasing it from 150 million SAR to 64.716 million SAR, in order to restructure its capital and eliminate accumulated losses amounting to 85.28 million SAR. This step comes after approval from the Board of Directors and will be followed by a capital increase through a rights issue of shares valued at 90 million SAR, aimed at strengthening the financial position and supporting operational and strategic plans. The procedures include appointing Capital Brokerage Company as a financial advisor, and these processes are subject to official approvals. The company will announce the results after completing the procedures.
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