AlBaha submits capital cut request to CMA

21/03/2017 Argaam

AlBaha Investment and Development Co. has submitted a request to reduce capital to the kingdom’s market regulator, the Capital Market Authority (CMA), the company said in a statement on Tuesday.

 

In February, the company’s board of directors recommended a 40 percent capital reduction to SAR 177 million from SAR 295 million, by cancelling four shares for every ten outstanding shares. 

 

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