Takween files for CMA’s approval on capital reduction

21/05/2023 Argaam

Takween files for CMA’s approval on capital reduction

Logo of Takween Advanced Industries Co. 

Takween Advanced Industries Co. filed on May 18 for the approval of the Capital Market Authority (CMA) on a SAR 485.4 million capital reduction, according to a statement to Tadawul.

 

The capital reduction is subject to the approval of the regulatory authorities as well as the extraordinary general meeting (EGM).

 

Any relevant updates will be duly revealed, the statement added.

 

Takween’s board of directors approved on May 11, amending the company’s recommendation to reduce capital by 51.09% from SAR 950 million to SAR 464.65 million, instead of SAR 490.4 million, data compiled with Argaam showed.

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