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Capital Market Authority Approves Capital Reduction for Printing and Packaging
The Saudi Capital Market Authority announced its approval of the request by Saudi Printing and Packaging Company to reduce its capital from 652.07 million riyals to 68.97 million riyals, which decreases the number of shares from 65.21 million to 6.90 million shares. The approval is subject to the approval of the Extraordinary General Assembly and the completion of regulatory procedures, along with the publication of a report detailing the method of reduction and the expected impacts prior to voting. The Authority's approval of the request does not constitute validation of the viability of the reduction.
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