Saudi Printing & Packaging shareholders approve 89.42% capital cut
Saudi Printing & Packaging's extraordinary general assembly approved on 26 October 2026 an 89.42% cut in share capital, from USD 173.9m (SAR 652m) to USD 18.4m (SAR 68.9m), to absorb accumulated losses of USD 155.5m (SAR 583.1m). The company will cancel 58,309,630 shares, 0.8942 for every share held, reducing the share count from 65,207,064 to 6,897,434; it says the move does not affect its financial obligations or operations.
Why this mattersWriting off 89% of share capital against SAR 583m of accumulated losses resets the equity base of a Gulf converter that has lost most of its capital.
- Share capital reduced from SAR 652 million to SAR 68.9 million, a cut of 89.42%
- The reduction offsets SAR 583,096,300 in accumulated losses
- 58,309,630 shares will be cancelled, 0.8942 shares for every one held
- Shares outstanding fall from 65,207,064 to 6,897,434
- Post-reduction share capital stands at SAR 68,974,340
- The company says the move does not affect its financial obligations or operations