Logo of Saudi Cable Co.
Saudi Cable Co. (SCC) appointed on June 22 Wasatah Capital as financial advisor to manage the company's planned capital reduction.
SCC will announce when the capital reduction file is submitted to the Capital Market Authority (CMA) and any future developments in a timely manner, it said in a statement to Tadawul.
On June 2, SCC’s board of directors recommended 74.6% capital reduction to SAR 66.73 million from SAR 262.31 million to restructure the company’s capital and offset its accumulated losses.
Additionally, the board recommended a SAR 400 million rights issue to raise the company’s capital when the planned reduction is complete.
|
Changes in Capital (SAR mln) |
||||
|
Date |
Method |
Old Capital |
New Capital |
Change (%) |
|
2022 |
Reduction |
360.61 |
262.31 |
(27.3%) |
|
2019 |
Rights Issue |
110.61 |
360.61 |
226.0% |
|
2018 |
Reduction |
404.11 |
110.61 |
(72.6%) |
|
2017 |
Reduction |
760 |
404.11 |
(46.8%) |
|
2004 |
Rights Issue |
640 |
760 |
18.8% |
|
2004 |
Rights Issue |
500 |
640 |
28.0% |
|
1997 |
Bonus Issue |
400 |
500 |
25.0% |
|
1997 |
Rights Issue |
300 |
400 |
33.3% |
|
1992 |
Bonus Issue |
270 |
300 |
11.1% |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}