Saudi's CMA nods to Naseej International’s capital cut

Reuters Images/Faisal Al Nasser

The new capital will be distributed over 10.89mln shares, instead of 21.16mln shares prior to the cut

Staff Writer, Mubasher

May 12, 2022

PHOTO

Riyadh – The Capital Market Authority (CMA) has approved Naseej International Trading Company's request to reduce its capital from SAR 211.63 million to SAR 108.97 million.

The new capital will be distributed over 10.89 million shares, instead of 21.16 million shares prior to the cut, according to a bourse disclosure on Wednesday.

It is worth noting that the company managed to slash its accumulated losses to SAR 41.12 million at the end of November 2021.

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