The company explained in a statement on its website:Trading“The capital reduction proposal comes as part of the company’s recently announced financial restructuring plan, which aims to enhance the stability of the company’s financial and operational position and to restructure the capital to improve its ability to move forward in achieving its growth plans.
The request stipulates reducing the capital from 11.33 billion riyals to 5.7 billion riyals, by cancelling 563.116 million shares of the company’s shares, representing a value of 5.6 billion riyals.
And it was Emaar Economic City It recently announced its plan to restructure the financial center, which aims to improve its ability to move forward with achieving its growth plans.
