11 hours ago
TADCO submits 53% capital reduction request to Saudi's CMA
Riyadh - Tabuk Agricultural Development Company (TADCO) has submitted an application to the Capital Market Authority (CMA) for approval to reduce its capital by 52.94%.
The request, submitted on 23 June 2025, follows the board's recommendation announced on 2 April 2025, according to a bourse filing.
Following the transaction, TADCO's capital will decline to SAR 184.35 million from SAR 391.76 million.
Accordingly, the number of shares will be reduced to 18.43 million from 39.17 million.
The capital reduction remains subject to regulatory approvals, including the CMA's review and the approval of the company's extraordinary general assembly.
TADCO recently signed an agreement with the National Electricity Transmission Company, a subsidiary of the Saudi Electricity Company, to establish a power transmission station for its farm in the Tabuk region.
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