Saudi Vitrified Clay Pipes Company has announced that it had recently submitted an application to the kingdom's Capital Market Authority (CMA) seeking approval to reduce its share capital by nearly 70% (10.46 million ordinary shares) as part of a proposed restructuring to offset accumulated losses.
Saudi Basic Industries Corporation (Sabic), a global leader in chemicals, returned to profit in the first quarter of 2026, posting a net profit attributable to shareholders of SAR13.2 million ($3.52 million) compared with a SAR1.21 billion ($322 million) loss a year earlier, according to the company's Tadawul filing.
