Naseej submits capital cut application to CMA

13/04/2022 Argaam

Logo of Naseej International Trading Co.

Naseej International Trading Co. submitted, on April 12, a request for capital reduction to the Capital Market Authority (CMA), according to a bourse filing.

 

The capital decrease is subject to regulatory approvals, including the company’s extraordinary general assembly.

 

Any future developments will be disclosed in due course.

 

In March, Naseej’s board of directors recommended a 48.51% capital cut from SAR 211.63 million to SAR 108.97 million by writing off 10.27 million shares (0.485 share for every one share).

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