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Capital Market Authority approves Al-Fakhariya share reduction
The Capital Market Authority has approved the request of the Saudi Ceramic Pipe Manufacturing Company ("Al-Fakhariya") to reduce its capital by 69.71%, from 150 million Riyals to 45.43 million Riyals, in order to address accumulated losses and ensure the sustainability of financial operations. This is subject to the approval of the General Assembly and completion of the regulatory procedures. The reduction includes decreasing the number of shares from 15 million to 4.54 million shares.
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