Wafrah for Industry and Development Co. appointed Wasatah Capital as financial advisor for its capital reduction, the company said in a bourse statement on Wednesday.
The company will also submit a request to the Capital Markets Authority (CMA) to reduce its capital.
In December 2019, Wafrah’s board of directors recommended a 49.44% capital cut to SAR 101.12 million, from SAR 200 million to offset the accumulated losses
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