Al-Kuthari Requests Capital Reduction to Cover Losses
Al-Koutary Holding Company has announced that it has submitted a request to the Capital Market Authority to reduce its capital from 113.02 million SAR to 9.65 million SAR. This step aims to offset accumulated losses by canceling approximately 206.74 million shares with a total value of 103.37 million SAR. This measure is part of a broader plan to restructure the company's financial situation and improve performance indicators, pending approval from regulatory authorities and shareholders for implementation. The substantial capital reduction aims to wipe out accumulated losses and facilitate the company's return to profitability in the future.
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