The Saudi Arabia Capital Markets Authority has approved Tabuk Agricultural Development Company's request to reduce its capital to SAR 76,524,600 from SAR 391,767,000. The reduction would cut the number of shares to 7,652,460 from 39,176,700, subject to shareholder approval at an extraordinary general assembly and completion of the required regulatory procedures. Before the extraordinary general assembly meeting, the company must publish a disclosure document for shareholders setting out the proposed method of the capital reduction and its expected effects, in time to support the shareholder vote. The authority also clarified that its approval does not amount to an endorsement of the feasibility of the capital decrease, but only confirms that the application met the requirements of the Capital Market Law and its implementing regulations.
Saudi Arabia Capital Markets Authority2026-07-23
Saudi Arabia Capital Markets Authority approves Tabuk Agricultural Development Company capital reduction to SAR 76.5 million
The Saudi Arabia Capital Markets Authority approved Tabuk Agricultural Development Company's proposed capital reduction to SAR 76,524,600 from SAR 391,767,000, reducing shares to 7,652,460 from 39,176,700. The move still requires extraordinary general assembly approval and other regulatory steps. The company must publish a shareholder disclosure document, and the authority said its approval only confirms regulatory compliance, not the feasibility of the reduction.