Seera's board proposes capital cut to $720mln
Riyadh - The board of directors of Seera Group Holding has recommended an 8.65% capital cut to SAR 2.74 billion from SAR 3 billion, according to a bourse disclosure.
The capital reduction will be executed through the cancellation of 25.95 million ordinary treasury shares, including 2.03 million shares allocated to the company's employee share program.
Subject to the approvals of the Capital Market Authority (CMA) and the extraordinary general meeting (EGM), the transaction will be implemented at a cancellation rate of 8.65 per 100 shares of the company.
It is worth highlighting that the capital reduction has no material impact on Seera's financial position, operations, or regulatory obligations.
As of 31 March 2025, the net profits of Seera hit SAR 53 million, marking an annual drop of 13.11% from SAR 61 million.
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