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Reedan adjusts capital reduction plan
The Redan Food Company has decided to revise its recommendation to reduce capital by 80%, from 73.14 million Saudi Riyals to 14.63 million Saudi Riyals, to offset part of the accumulated losses which amounted to 58.51 million Riyals according to the first half of 2026 results. This adjustment will lead to a decrease in the nominal value of the share from 10 Riyals to 2 Riyals, while keeping the number of shares unchanged at 7.31 million shares, without any significant impact on the company's liabilities or operations. The company also maintains its recommendation to increase capital by 105 million Riyals through primary rights to support liquidity and expansion plans, subject to approval by regulatory authorities and the extraordinary general assembly.
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