Logo of Red Sea International Co.
Red Sea International Co. submitted the application file to reduce the company's capital from SAR 600 million to SAR 302.34 million to the Capital Market Authority (CMA) for approval on May 29.
The company will announce any future developments in regard, it said in a statement to Tadawul.
Red Sea International’s board of directors recommended a capital cut of 49.61% through writing off one share for every 2.016 shares held, Argaam reported
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