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Etihad Atheeb EGM approves 35% capital cut to offset losses

Tuesday 3 March 2020 | 10:33 CET | News
Shareholders of Saudi Etihad Atheeb Telecommunication, which trades as Go, approved a 34.8 percent capital cut to SAR 228.53 million from SAR 350.53 million at its Extraordinary General Meeting (EGM) on 27 February, Argaam reported. The cut will be made by writing off 12.20 million shares, in order to offset 67.41 percent of total accumulated losses or SAR 122 million. The Saudi Stock Exchange (Tadawul) said that the fluctuation limits for Go will be based on a share price of SAR 11.06. 

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Categories: Mobile & Wireless
Companies: Atheeb
Countries: Saudi Arabia
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