Mubasher: The Capital Market Authority (CMA) in Saudi Arabia approved Tihama Advertising and Public Relations’s request to decrease the capital by 50%.
The Saudi firm will reduce the capital to SAR 75 million from SAR 150 million, subject to the approval of the extraordinary general meeting and the required regulatory procedures, according to a bourse statement issued on Thursday.
The capital reduction was recommended by the board to offset the company’s accumulated losses.
