Alhokair Group says accumulated losses fully offset after capital cut

Logo of Abdulmohsen Alhokair Group for Tourism and Development

Abdulmohsen Alhokair Group for Tourism and Development offset its accumulated losses in full, following a capital reduction by SAR 335 million to SAR 315 million, the company said in a bourse statement today, Nov. 17.

On Oct. 6, Alhokair Group’s shareholders approved the board’s recommendation to reduce capital by 51.54% from SAR 650 million to SAR 315 million, Argaam earlier reported.