SIIG gets CMA nod on capital reduction

24/03/2025 Argaam

Saudi Industrial Investment Group (SIIG) obtained the approval of the Capital Market Authority (CMA) on its request to cut capital from SAR 7.5 billion to SAR 6.7 billion, the market regulator said in a statement today, March 24.

 

If approved, SIIG’s share capital will also decrease from 755 million to 679 million shares.

 

The capital decrease request was submitted to the CMA on Feb. 12.

 

The 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.

 

Data compiled with Argaam showed that SIIG’s board of directors recommended in December 2024 a 10% capital cut from SAR 7.5 billion to SAR 6.7 billion. This came as current capital exceeds the company’s operational needs.

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