Alhokair Group’s accumulated losses decline to 34.55% of capital

Logo of Alhokair Group

Abdulmohsen Alhokair Group for Tourism and Development’s accumulated losses dropped to SAR 224.59 million as of Sept. 30, 2021, amounting to 34.55 % of capital, the company said in a bourse statement.

The company’s capital stood at SAR 650 million as of Sept. 30, 2021, the statement added.

The fall in accumulated losses is driven by capital increase through a SAR 307 million rights issue, based on the approval of the company’s extraordinary general meeting (EGM) held on July 8, 2021.

The company is still subject to the procedures and guidelines related to the listed companies in Tadawul whose accumulated losses exceeded 20% of its share capital.

To review the legal accountant’s report on the company’s financial position after the decline of the accumulated losses: