Saudi Paper studies capital restructuring

Saudi Paper Manufacturing Co.’s (SPMC) board of directors formed a committee to study restructuring the company’s capital through available options.

The committee will be headed by Saad Al-Shammari, the company said in a bourse statement on Sunday.

In December 2018, the company’s shareholders approved using SAR 66.25 million from statutory reserve to offset part of the company’s accumulated losses which reached 43.9 percent of capital, Argaam reported.