Riyadh - Mubasher: The board of Solidarity Saudi Takaful recommended on Saturday 3 December reducing the company’s capital by 55% from SAR 555 million to SAR 250 million.
The total number of shares will decline from 55.5 million shares to 25 million shares, according to the company’s statement to the Saudi Stock Exchange (Tadawul).
Solidarity said that the decision doesn’t affect the company’s financial obligations, bearing in mind that decreasing the capital requires the approval of the market authorities and the company’s general assembly.
