Tabuk Agriculture Development Co. filed a request with the Capital Market Authority (CMA) to reduce its capital by 46.27% to offset accumulated loses.

 

The company said in a statement to Tadawul that it will make further announcements once available.

 

On Oct. 10, the company’s board of directors recommended a 46.27% capital cut to SAR 241.77 million from SAR 450 million.

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