Logo of Saudi Cable Co.
Saudi Cable Co. submitted a capital reduction request to the Capital Market Authority (CMA) on June 27, according to a bourse filing.
Any related developments will be duly revealed, the statement added.
On June 2, Saudi Cable’s board of directors recommended a 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, Argaam reported.
Moreover, the board recommended a SAR 400 million rights issue to raise the company’s capital when the planned reduction is complete.
|
Capital Changes (SAR mln) |
||||
|
Date |
Change |
Old Capital |
New Capital |
Change |
|
2022 |
Capital Reduction |
360.61 |
262.31 |
(27.3%) |
|
2019 |
Rights Issue |
110.61 |
360.61 |
226.0 % |
|
2018 |
Capital Reduction |
404.11 |
110.61 |
(72.6%) |
|
2017 |
Capital 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 % |
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