Ayan Saudi Investment submits capital reduction file to the Capital Market Authority

The board's recommendation includes a capital reduction from 1.01 billion riyals to 807.6 million riyals to extinguish accumulated losses, representing a 19.75% reduction by canceling 19.88 million shares, at a rate of 0.1975 share per owned share.

The recommendation also includes a reduction of the company's capital to increase it beyond need from 807.6 million riyals to 757.6 million riyals, with a 6.19% reduction by canceling 5 million shares, at a rate of 0.0619 share per owned share, to increase capital beyond the company's need, by returning the amounts to the company's shareholders.

The company noted that the implementation of the second part of the recommendation is conditional upon obtaining shareholders' approval of the first item, and if shareholders do not approve the first item, the second item will be cancelled and will be void.

The Red Sea Global Company announced the board's decision to accept Hani bin Othman Baithman's resignation from the position of group CEO, effective from August 28, 2026.

Niqi Water Company announced the opening of its new branch in Tabuk City, as part of its expansion plans aimed at strengthening its geographic presence and expanding its operations across various regions of the Kingdom.

The Saudi Company for Mass Transit (SABTCO) announced the signing of a contract for the school transportation services project in the industrial city of Jubail with the Royal Commission for Jubail and Yanbu (General Administration of the Jubail Project).