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Al-Kathiri seeks capital reduction to cover losses
Al Kalthani Holding Company announced that it has submitted an official request to the Capital Market Authority to reduce its capital from 113.02 million SAR to 9.65 million SAR by canceling 206.74 million shares, in order to address accumulated losses and improve its financial position. The implementation of this process is subject to regulatory approvals and shareholder consent. This move is part of the company's efforts to restructure its capital and eliminate the financial burden resulting from losses, thereby enhancing its prospects for returning to profitability in the future.
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