Saudi Steel Pipe offsets accumulated losses from share premium account

26/05/2019 Argaam

 

Saudi Steel Pipe Co. has transferred SAR 126.79 million from share premium account to retained earnings account to fully offset its accumulated losses account as of Dec. 31, 2018 which represented 24.86 percent of capital, the company said in a bourse statement.

 

Earlier this month, Saudi Steel Pipe Co.’s shareholders approved transferring SAR 126.79 million from share premium account to offset accumulated losses account as of Dec. 31, 2018, according to data compiled by Argaam.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.