Saudi Cable Co. has picked NCB Capital as financial advisor for its capital cut, the company said in a statement to Tadawul on Thursday.
Saudi Cable’s board of directors has recommended a 65.92 percent capital reduction to SAR 259 million from SAR 760 million, to offset accumulated losses.
Capital will be reduced by cancelling 50.1 million shares from the outstanding 76 million shares.
Comments
{{DisplayName}}
{{ElapsedTime}}