The Saudi Arabia Capital Markets Authority has approved Saudi Industrial Investment Group’s request to reduce its capital from SAR 7,548,000,000 to SAR 6,793,200,000, subject to approval by the company’s extraordinary general assembly and completion of required regulatory procedures. The reduction would decrease the number of shares from 754,800,000 to 679,320,000. Ahead of the extraordinary general assembly meeting, the company must publish a disclosure document for shareholders setting out the proposed method of capital reduction and its expected effects, with sufficient time for shareholders to review and vote. The CMA noted that its approval reflects satisfaction of applicable Capital Market Law and Implementing Regulations requirements and does not constitute an endorsement of the feasibility of the capital decrease.
Saudi Arabia Capital Markets Authority 2025-03-24
Saudi Arabia Capital Markets Authority approves Saudi Industrial Investment Group’s capital reduction subject to shareholder approval
The Saudi Arabia Capital Markets Authority approved Saudi Industrial Investment Group's request to reduce its capital from SAR 7,548,000,000 to SAR 6,793,200,000, pending the company's extraordinary general assembly approval and regulatory procedures. The reduction will decrease shares from 754,800,000 to 679,320,000. The CMA's approval confirms compliance with Capital Market Law and Implementing Regulations but does not endorse the capital decrease's feasibility.