Riyadh – Mubasher: Saudi Printing and Packaging Company submitted a formal application to the Capital Market Authority (CMA) on Thursday to reduce its capital by SAR 583.10 million.

The proposed restructuring is designed to extinguish the company’s accumulated losses.

Under the terms of the filing, the company intends to decrease its capital from SAR 652.07 million to SAR 68.97 million.

The reduction will be executed through the cancellation of 58.30 million ordinary shares, representing a total value of SAR 583.10 million.

This submission follows the initial board of directors' recommendation announced on 1 June 2026 and a subsequent corrective announcement issued on 29 June 2026.

The capital reduction process remains subject to the approval of the Kingdom’s regulatory authorities and must be ratified by the company’s extraordinary general assembly.

Saudi Printing stated it will provide further updates to shareholders as the regulatory review progresses. The move is part of a broader effort to improve the firm's financial position by addressing its balance sheet deficit.