Zain Saudi approves 46% capital reduction

25/02/2015 Argaam

Mobile Telecommunication Company’s (Zain Saudi) approved a 45.96 percent capital reduction in its extraordinary general assembly held on Wednesday.

The operator will cut its capital from SAR 10.80 billion to SAR 5.8 billion.

Zain’s board of directors had previously recommended the reduction in order to extinguish the company’s accumulated losses.  

 

Capital Reduction Details

SAR 10.8 bln

Current capital

1,080.1 mln shares

Number of shares

45.96% ( one share for every 2.18 shares)

Capital reduction percentage

SAR 5.8 bln

New capital

583.73 mln shares

Number of shares after reduction

For shareholders registered on Feb. 25

Date for reduction

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.