Fitaihi capital reduction to come into effect after expiry of creditors' objection on Sept. 5

Fitaihi Holding Group headquarters

Fitaihi Holding Group announced that the creditors' objection period will expire on Sunday, Sept. 5, according to a bourse statement today, Aug, 29.

Under the Companies Law, the decision to reduce the company's capital will be effective immediately after the creditors' objection period expires, if creditors do not object the capital reduction decision.

Fitaihi shareholders approved a 50% capital cut to SAR 275 million from SAR 550 million, during the extraordinary general assembly meeting (EGM) held on July 7, according to data compiled by Argaam.