Tadawul: Saudi Cable goes ex-rights today

09/02/2022 Argaam
Logo of Saudi Cable Co.

Logo of Saudi Cable Co.

Shares of Saudi Cable Co. have their ex-rights today, Feb. 9, pending the general assembly’s approval.

 

Shareholders are set to vote on a board recommendation of a 27.26% capital cut from SAR 360.61 million to SAR 262.31 million, followed by a capital hike through SAR 500 million rights issue.

 

The capital hike aims at restructuring capital and pumping new funds to provide working capital to enable the company from increasing its operational capacity and support future activities.

 

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