Saudi Cable’s accumulated losses stand at 36% of capital

Saudi Cable Co. has recorded SAR 145.1 million in accumulated losses, accounting for 35.89 percent of paid-up capital amounting to SAR 404.11 million, the company said in a statement to Tadawul on Monday. 

These losses were mainly driven by negative performance of the company’s operations.

The Saudi company will be subject to the CMA’s rules governing listed companies with accumulated losses of between 35 and 50 percent of their capital, as of April 22, 2017.