Al Sorayai Group appoints financial adviser for capital cut

14/11/2017 Argaam

Al Sorayai Trading and Industrial Group on Tuesday appointed Wasatah Al Maliah Co. (Wasatah Capital) as financial adviser for its potential capital cut, the company said in a bourse statement.

 

Last week, Al Sorayai’s board of directors had recommended a 40 percent capital reduction to SAR 225 million form SAR 375 million to offset accumulated losses.

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