Asharqiya hires financial advisor for capital cut

23/03/2017 Argaam

Dammam-based Ash-Sharqiyah Development Co. on Wednesday hired Wasatah Capital as financial advisor for its capital reduction program, the company said in a statement to Tadawul on Thursday.

 

The agriculture company’s board of directors has proposed a 38.8 percent capital cut from SAR 75 million to SAR 45.9 million, by cancelling 2.9 million shares (one share per 2.577 shares), in order to offset accumulated losses.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.