Naseej appoints Wasatah Capital as financial advisor for capital cut

04/04/2022 Argaam

Logo of Naseej International Trading Co.

Naseej International Trading Co. appointed today, April 4, Wasatah Capital Co. as a financial advisor to manage its capital reduction process and related procedures, according to a bourse filing.

 

The firm will announce in due course the details of submitting the capital decrease application to the Capital Market Authority (CMA), along with any future developments.

 

Last month, the company's board of directors recommended a 48.51% capital cut from SAR 211.63 million to SAR 108.97 million through writing off 10.27 million shares (0.485 share for every one share), according to data compiled by Argaam.

 

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