AlBaha Investment and Development Co. on Wednesday picked Aldukheil Financial Group (AFG) as financial advisor for its capital cut, the company said in a statement.
The capital reduction process is subject to regulatory approvals.
Last month, the firm’s board of directors recommended a 40 percent capital reduction to SAR 177 million, by cancelling 11.8 million shares to offset accumulated losses, data compiled by Argaam showed.
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