Raydan Food submits capital reduction request to CMA

A Raydan Food branch

Raydan Food Co. submitted a request to the Capital Market Authority (CMA) today, Aug. 7, to reduce its capital, according to a statement to Tadawul.

The capital reduction is subject to relevant regulatory approvals, including the approval of the company's extraordinary general assembly.

For more news on listed companies

The company will announce any future developments in this regard in due course.

Raydan’s board of directors recommended in May a 53.74% capital cut to SAR 73.14 million from the current SAR 158.08 million to offset accumulated losses. The board also proposed a subsequent increase in capital via a SAR 155 million rights issue, according to Argaam’s data.

The company’s accumulated losses amounted to 53.74% of capital, based on preliminary financial results for the period ended on March 31, 2025.