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Printing and Packaging Assembly Considers 89.4% Capital Cut
The Saudi Printing and Packaging Company intends to reduce its capital by approximately 89.42%, from 652 million Riyals to around 69 million Riyals, in order to offset accumulated losses amounting to 583 million Riyals and improve its financial position. This proposed action involves canceling about 58 million shares, decreasing the total number of shares from 65 million to approximately 6.9 million, without affecting the company's liabilities or operational activities. The decision will be put to a vote at the Extraordinary General Assembly Meeting scheduled for October 26, 2026, pending shareholders' approval, to correct the company's financial course.
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