Logo of Saudi Arabian Amiantit Co.
The Securities Depository Center Co. (Edaa) implemented securities quantity decrease on Saudi Arabian Amiantit Co. on accounts of eligible securities’ holders today, March 2, according to a bourse filing.
According to data compiled by Argaam, shareholders of Amiantit recently approved the board of directors' recommendation to reduce capital from SAR 320 million to SAR 99 million, by 69.06%, in order to offset 99.93% of the company's accumulated losses.
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