SIECO submits capital cut request to CMA
03/12/2017
Argaam
Saudi Industrial Export Co. (SIECO) on Sunday submitted a request to the Capital Market Authority (CMA) to reduce capital by 90 percent, the company said in a statement to Tadawul.
Last month, SIEC’s board of directors had proposed a capital cut to SAR 10.8 million from SAR 108 million, in order to offset accumulated losses, Argaam previously reported.
Later, the board of directors recommended increasing capital through SAR 54 million rights issue following the planned capital cut, aiming to restructure its capital and inject fresh funds to deleverage its balance sheet.
Related News
| Saudi Industrial Export proposes SAR 54 mln rights issue |
| SIECO recommends 90% capital cut to offset losses |
Market Indices
TASI
10,878.46
13.89
0.13 %
Quotes
SIECO
2.20
(0.05)
(2.22%)
About Us
Join Us
Argaam Tools is an advanced tool that provides investors, analysts, research houses, and corporate executives with easy access to a single source for in-depth data on macroeconomy, capital market, sectors, and companies insights.
Argaam.com Copyright © 2026, Argaam Investment, All Rights Reserved
Call Request
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}