Raydan picks Yaqeen Capital to advise on capital cut

07/09/2022 Argaam

Logo of Raydan Food Co.

Raydan Food Co. named, on Sept. 6, Yaqeen Capital as a financial advisor to manage the capital reduction, according to a bourse filing.

 

Raydan will duly announce the date of filing for the approval of the Capital Market Authority (CMA) and any other developments.

 

In August, Raydan Food board of directors recommended the decrease of the company's capital by 53.16% from SAR 337.50 million to SAR 158.08 million, to amortize accumulated losses, Argaam reported.

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