Al-Fakhariya Advises Capital Restructuring
Saudi Ceramic Pipes Company ("The Ceramic") has decided to reduce its capital by 56.86%, from 150 million SAR to approximately 64.7 million SAR, in order to restructure its capital and offset accumulated losses of 85.28 million SAR. This will involve canceling 8.53 million shares, equivalent to 0.568562 shares for every existing share, decreasing the total number of shares from 15 million to 6.47 million shares. After the reduction, the company plans to increase its capital by 90 million SAR through a rights issue to support its financial position and implement its strategy, with the execution expected after approval from the regulatory authorities and the extraordinary general assembly.
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