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Al Kair International Plans 72% Capital Reduction
Al-Qair International Company announced that its Board of Directors has proposed a reduction of the company's capital by approximately 72%, from 120 million SAR to around 33.6 million SAR, in order to restructure the capital and offset accumulated losses. The number of shares will be reduced from 120 million shares to about 33.6 million shares through the cancellation of 86.4 million shares, without affecting the company's obligations or its financial and operational performance. The decision is pending approval from regulatory authorities and the General Assembly, and its implementation will commence after the extraordinary general meeting is held.
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