Emaar Economic City announced that the Capital Market Authority (CMA) has approved its request to reduce its capital from SAR 11.3 billion to SAR 5.23 billion.
The capital reduction will involve canceling 610 million ordinary shares, decreasing the total number of shares from 1.13 billion to 523 million, representing a reduction of 53.83%.
According to the company’s statement on “Tadawul,” the capital reduction will take effect at the end of the second trading day following the extraordinary general assembly meeting in which the reduction is approved.
