Print and Packaging seeks capital reduction to offset losses
The Saudi Printing and Packaging Company has officially submitted a request to the Capital Market Authority to reduce its capital by more than 89%, aimed at offsetting accumulated losses and improving its financial position. The capital will be decreased from 652.07 million riyals to 69 million riyals by canceling 58.31 million shares valued at approximately 583.09 million riyals, following approval from the Extraordinary General Assembly and regulatory authorities. This move is part of the company's financial restructuring effort to strengthen its future financial indicators.
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