Etihad Atheeb appoints Aljazira Cap to advise on capital restructuring

Logo of Etihad Atheeb

Etihad Atheeb Telecommunication Co. (GO) appointed Aljazira Capital as a financial advisor to the executive management, the company said in a bourse statement.

Aljazira Capital will present a future financial plan to the board of directors dealing with how to raise the company's financial solvency, strategic expansion, and improve operational and financial performance.

GO will announce any material developments such as the percentage of capital reduction, date of reduction and capital increase percentage, but not limited to, at a time, according to the regulations and regulations.

The company's board of directors decided on July 5 to authorize the executive management to study ways to restructure the company’s capital, Argaam earlier reported.

This will include capital reduction and subsequent capital increase in accordance with the company's current financial position.