Bishah Agriculture Co agreed on March 4 to restructure the company and reduce the capital to amortize losses before increasing the capital again as recommended by its financial advisor, the company said in a statement to Tadawul, the Saudi bourse.
Bishah plans to involve in direct investments and may change the location of its headquarters.
The company will also appoint an assets management expert, a legal advisor and an auditor to conduct due diligence.
The Saudi Capital Market Authority suspended trading of Bishah’s shares in 2007 after the company’s total losses exceeded 100% percent of its capital.
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