Nama Chemicals submits capital cut request to CMA

06/04/2017 Argaam

Nama Chemicals Co. on Thursday submitted its request to reduce capital to the Capital Market Authority (CMA), the company said in a statement to Tadawul.

 

Nama’s board of directors had earlier recommended a 81.7 percent capital cut to SAR 235.2 million from SAR 1.28 billion (through canceling one share for each 1.2244 outstanding shares) to offset its losses, Argaam reported.

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