Tabuk Agricultural Seeks CMA Approval for SAR 207.4 mln Capital Reduction

Tabuk Agricultural Development Co. said on Tuesday it has submitted a request to Saudi Arabia’s Capital Market Authority (CMA) to approve a capital reduction of SAR 207.4 million ($55.3 million), according to a statement on the Saudi stock exchange, Tadawul.

The proposed capital cut remains subject to regulatory approval, including clearance from the company’s Extraordinary General Assembly, the statement said.

The request follows a board recommendation disclosed on April 3, 2025 (05/10/1446 AH), in which the company proposed the capital decrease.

Tabuk Agricultural said it will announce any material developments as they arise.