Takween Advanced Industries’ (Takween) accumulated losses reached SAR 216 million, or 22.8 percent of capital, as of Dec. 31, 2018, the company said in a bourse statement.
The losses are attributed to a decrease in sales volumes and higher prices of raw material, it said.
The due procedures for Tadawul-listed companies with 20 percent or more accumulated losses will be implemented, the statement added.
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