TADCO submits capital cut request to CMA

24/06/2025 Argaam
Logo ofTabuk Agricultural Development Co. (TADCO)

Logo of Tabuk Agricultural Development Co. (TADCO)

Tabuk Agricultural Development Co. (TADCO) submitted on June 23 an application to the Capital Market Authority (CMA) for approval to reduce its capital to SAR 184.36 million, according to a statement to Tadawul.

 

The capital decrease is subject to the applicable regulatory go-aheads, including that of the extraordinary general meeting (EGM).

 

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The company will announce any future developments in this regard later, the statement added.

 

In April, TADCO’s board of directors recommended a 52.94% capital cut to SAR 184.36 million from the current SAR 391.77 million to restructure capital to amortize accumulated losses, Argaam data showed.

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