Tue, 2022-07-26 08:37
RIYADH: Saudi Cable Company has received shareholders’ approval to reduce the company’s capital by 74.6 percent.
The energy and telecommunications cable provider will reduce its capital from SR262 million to SR67 million ($18 million), an exchange filing shows.
The company said that the purpose of reduction in capital is to restructure the company’s capital and reduce its accumulated losses.
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