Etihad Atheeb seeks market regulator’s approval of capital cut

02/02/2020 Argaam

 

Etihad Atheeb Telecommunication Co. (GO) submitted on Jan. 30 a capital reduction request to the Capital Market Authority (CMA), the company said in a bourse statement.

 

Earlier in January, Etihad Atheeb’s board of directors recommended a 34.8% capital reduction to SAR 228.53 million from SAR 350.53 million through writing off 12.20 million shares, in order to offset 67.41% of total accumulated losses.

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