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Printing and Packaging seeks capital reduction to offset losses
The Saudi Printing and Packaging Company has officially submitted a request to the Capital Market Authority to reduce its capital by more than 89%, from 652.07 million SAR to 69 million SAR. This will be achieved by canceling 58.31 million shares valued at approximately 583 million SAR, with the aim of offsetting accumulated losses and achieving better financial restructuring. This move is part of the company's efforts to improve its financial situation, and it is currently awaiting regulatory approvals and the extraordinary general assembly of shareholders for final approval of the implementation.
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