Yanbu Cement, listed on the Saudi stock exchange Tadawul, had said in January its board had recommended a capital reduction to 1 billion riyals ($266.65 million) from 1.575 billion riyals as the capital exceeded the company's needs.
The capital decrease would have happened by cancelling 36.5% of its shares and compensating shareholders.
Saudi Arabia's crown prince said oil firm Aramco and petrochemical firm SABIC would lead 5 trillion riyals ($1.33 trillion) of investments by the local private sector by 2030 under a programme announced on Tuesday for economic diversification.
The kingdom's benchmark index eased 0.1%, hit by a 1.5% fall in oil giant Saudi Aramco and 2% slide in Saudi Basic Industries Corp.
He said dividends for those owning shares in Aramco, which listed on the local bourse in 2019, would remain stable. The Saudi government still owns 98% of the firm.
