Saudi Industrial Services Company (SISCO) reduced the capital of its affiliate, Saudi Trade and Export Development Company (Tusdeer), 26.3% from SAR 190m to SAR 140m due to the increase of the company’s capital over its current needs; the company said in its filing to Tadawul today.
The difference of SAR 50m will be distributed to the company’s partners after completing the capital reduction statutory procedures.
SISCO who owns 76% of Tusdeer added that this capital restructuring will not affect the partners’ shares or the company’s liabilities.
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