GO says accumulated losses fell to 34% of capital

Etihad Atheeb Telecommunication Co.’s (GO) accumulated losses have dropped to 33.65 percent of capital from 51.63 percent after the recent capital cut, the firm said in a bourse statement.

The firm’s shareholders approved on April 24 a 25.81 percent capital cut to SAR 350.53 million from SAR 472.5 million, in order to offset 51.63 percent of accumulated losses, Argaam previously reported.