Etihad Atheeb submits capital reduction request to CMA

28/10/2021 Argaam

Logo of Etihad Atheeb Telecommunication Co. 

Etihad Atheeb Telecommunication Co. (GO) submitted on Oct.27, a request for capital reduction to the Capital Market Authority (CMA), according to a bourse filing.

 

Any future development regarding this matter will be disclosed as they become available, the statement added.

 

Earlier this month, the company's board of directors recommended reducing its capital by 60.62% from SAR 228.53 million to SAR 89.99 million, according to data compiled by Argaam.

 

AlJazira Capital was appointed as a financial advisor to manage the capital reduction and all related procedures.

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