Naseej says accumulated losses down to 19.4% of capital

09/12/2021 Argaam

Logo of Naseej International Trading Co.

Naseej International Trading Co. announced that its accumulated losses, as of Nov. 30, 2021, decreased to 19.4%, or SAR 41.12 million of capital, according to a bourse filing.

 

This followed increasing the company’s capital to SAR 211.6 million from SAR 61.6 million, via a SAR 150 million rights, after obtaining the approval of the extraordinary general meeting, held on Nov. 4, 2021.

 

In November, the company’s shareholders approved the board’s recommendation to increase capital to SAR 211.6 million from SAR 61.6 million, via a SAR 150 million rights issue, during the extraordinary general meeting (EGM) held on Nov. 4, according to Argaam.

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