RIYADH: Abdulmohsen Alhokair Group for Tourism and Development, one of Saudi Arabia’s largest hospitality firms, was granted approval by the Capital Market Authority for a capital reduction of 46 percent.
Alhokair Group’s plan includes reducing the company’s share capital from SR650 million ($173 million) to SR315 million, according to a statement by the CMA.
The company said that the move was made in order to “amortize 98 percent…
