Tihama submits a request to CMA to reduce its capital to SAR 226 million

Tihama Advertising, Public Relations, and Marketing Company announced that it has submitted a request to the Capital Market Authority to reduce its capital from SAR 400 million to SAR 226 million. This request will be made by canceling 17.3 million shares, representing a value of SAR 173.9 million.

The company explained in a statement on Tadawul that the capital reduction is intended to restructure its capital and offset accumulated losses.

According to the company, the capital reduction is subject to relevant regulatory approvals, including the approval of the Extraordinary General Assembly.