Fitaihi appoints Wasatah Capital as financial advisor for capital cut

10/03/2021 Argaam

Fitaihi Holding Group appointed today, March 10, 2021, Wasatah Capital Co. as a financial advisor to manage the company’s capital reduction process and related procedures, according to a bourse filing.

 

The firm will announce in due course the details of submitting the capital decrease application file to the Capital Market Authority (CMA), and any future developments.

 

Earlier this month, the company's board of directors recommended a 50% capital cut from SAR 550 million to SAR 275 million on having a capital surplus.

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