TADCO gets CMA nod on reducing capital to SAR 184.4M

01/10/2025 Argaam
Logo ofTabuk Agricultural Development Co. (TADCO)

Logo of Tabuk Agricultural Development Co. (TADCO) 

Tabuk Agricultural Development Co. (TADCO) secured the Capital Market Authority’s (CMA) go-ahead on its request to slash capital from SAR 391.8 million (39.18 million shares) to SAR 184.4 million (18.43 million shares).

 

The planned capital cut is still subject to approval of the company's extraordinary general meeting (EGM) and the completion of the necessary procedures as per the applicable regulations, the market regulator said in a statement today, Oct. 1.

 

According to Argaam’s data, in April, TADCO’s board of directors recommended a 52.94% capital reduction from SAR 391.77 million to SAR 184.36 million to amortize accumulated losses.

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