RIYADH: Fawaz Abdulaziz Alhokair Co. obtained approval from shareholders to reduce its capital to SR1.14 billion ($304 million), from SR2.1 billion.
Its shares will be reduced to 114 million from 210 million, the company revealed in a bourse filing.
This follows the approval of the Capital Market Authority earlier this month.
Founded in 1990, the Saudi-listed firm has grown into one of the leading retailers across the Middle East, North Africa, Central Asia, and the Caucasus.