Sisco completes procedures for Tasdeer capital decrease

02/09/2014 Argaam

Saudi Industrial Services Company (SISCO) finalized today regulatory procedures to decrease the capital of its subsidiary Tasdeer from SAR 190 million to SAR 140 million.

Sisco owns 76 percent stake in Tasdeer, and announced in June stakeholders’ plan to cut the company’s capital as “excessive to company’s needs.”

The SAR 50 million difference will be reverted to partners, Sisco said.

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