Saudi Cable names NCBC as financial advisor for capital cut

20/04/2017 Argaam

Saudi Cable Co. has picked NCB Capital as financial advisor for its capital cut, the company said in a statement to Tadawul on Thursday.

 

Saudi Cable’s board of directors has recommended a 65.92 percent capital reduction to SAR 259 million from SAR 760 million, to offset accumulated losses.

 

Capital will be reduced by cancelling 50.1 million shares from the outstanding 76 million shares.

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