Saudi Paper cuts accumulated losses to 7.84% of capital

12/11/2019 Argaam

 

Saudi Paper Manufacturing Co. (SPM) cut its accumulated losses to SAR 7.2 million, or 7.84% of its capital as of Nov. 4, 2019, the company said in a statement to Tadawul on Tuesday. 

 

On Nov. 5, SPM's shareholders approved reducing capital by 62.45% to SAR 92 million to offset the accumulated losses through cancelling 15.3 million shares, Argaam reported.

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