Saudi Arabia’s Capital Market Authority (CMA) has approved Saudi Industrial Export Company’s request to reduce capital to SAR 10.8 million from SAR 108 million, the regulator said in a statement to Tadawul on Wednesday.

 

After the move, the number of shares will reduce from 10.8 million to 1.08 million.

 

The approval is conditional upon the company receiving the go-ahead from the extraordinary general assembly, as well as other procedures and regulations, the CMA added.  

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