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Capital Market Authority approves Tabuk Agrico Capital reduction
The Capital Market Authority has announced its approval of Tabouk Agricultural Development Company's request to reduce its capital from 391.77 million Riyals to 76.52 million Riyals. This reduction will decrease the number of shares from 39.18 million to 7.65 million. This approval is conditional upon the approval of the company's extraordinary general assembly and the completion of the necessary regulatory procedures. A report explaining the method of the reduction and its expected impacts will be published prior to the voting. The Authority emphasizes that this approval does not constitute an assessment of the viability of the reduction but simply confirms compliance with regulatory requirements.
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