Savola Group Submits Request to CMA to Reduce Capital to SAR 3 Billion

Savola Group announced on Wednesday that it has submitted a request to the Capital Market Authority (CMA) to reduce its capital from 11.3 billion riyals to 3 billion riyals.

It is worth mentioning that the Capital Reduction is subject to the approval of the CMA and the Company’s Extraordinary General Assembly and is linked to the in-kind distribution process of Savola’s entire share in Almarai Company to Savola’s eligible Shareholders.

This comes in reference to Savola Group’s announcement published on the Tadawul website on Sep. 26, 2024 which includes the Board of Directors’ recommendation to reduce the Company’s capital from (11,339,806,840) Saudi riyals to (3,000,000,000) riyals.