A branch of Raydan Food Co.

Raydan Food Co. submitted a request for the Capital Market Authority’s (CMA) approval for the proposed capital cut, the company said in a bourse filing today, Sept. 8.  

 
The company will announce any relevant updates in due course.
 
In August, Raydan Food’s board of directors recommended a capital decrease of 53.16% from SAR 337.50 million to SAR 158.08 million to write off accumulated losses, Argaam reported.

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Raydan Food board recommends 53.16% capital decrease to offset accumulated losses

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