SIIG says creditor objection period for capital reduction starts

25/03/2025 ِArgaam
Logo ofSaudi Industrial Investment Group (SIIG)

Logo of Saudi Industrial Investment Group (SIIG)

Saudi Industrial Investment Group (SIIG) said that the creditor objection period for the planned capital reduction started today, March 25 and will run until May 8.

 

In a statement to Tadawul, SIIG said that any creditor can object to the reduction during the specified period by sending a registered letter to the company’s headquarters with full details on his debt.

 

The objection will not scrap the capital reduction.

 

The objection will not scrap the capital reduction, the statement said.

 

The company needs to repay the debt of any creditor who objests to the process.

 

In December 2024, the company’s board of directors recommended cutting capital by 10% to SAR 6.79 billion from SAR 7.54 billion as SIIG has excess capital.

 

The Saudi market regulator greenlit the plan.

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