Saudi Fisheries submits capital reduction request to CMA

Saudi Fisheries Co has submitted its capital reduction request to the Capital Market Authority (CMA), the company said in a statement on Tadawul.

The company will announce any future developments in this regard as soon as they become available, the statement added.

In October, the board of directors had amended its capital cut recommendation to SAR 101.1 million from SAR 200 million.

The process intended to offset the company’s accumulated losses of SAR 98.9 million which represents 49.45 percent of capital.