Saudi Cable offsets accumulated losses

04/10/2018 Argaam

 

Saudi Cable Co. has fully offset its accumulated losses through its recent capital cut, it said in a bourse statement.

 

Last month, the company’s shareholders approved a 72.6 percent capital reduction to SAR 110.6 million from SAR 404.1 million to offset accumulated losses.

 

Saudi Cable had earlier announced that its accumulated losses had reached SAR 293.5 million, representing 72.6 percent of capital.

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