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Capital Market Authority approves Tabuk Agriculture's capital reduction
The Capital Market Authority announced its approval of Tabuk Agricultural Development Company's request to reduce its capital from 391.77 million riyals to 76.52 million riyals, which decreases the number of shares from 39.18 million to 7.65 million. The Authority conditions this approval on the approval of the extraordinary general assembly and the provision of a report explaining the method of reduction and potential impacts prior to voting. The decision confirms the company's compliance with regulatory requirements but does not reflect the economic viability of the reduction.
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