The Saudi Industrial Exports Company “Sadirat” announced a decrease in its accumulated losses to 10.64% of the capital, after an increase of 194.4 million riyals.
Saderat said in a statement on “Saudi Tadawul”, today, Monday, that the accumulated losses amounted to about 20.69 million riyals.
The company attributed the reason to the approval of the extraordinary general assembly to increase the company’s capital in order to raise the financial solvency and the strategic expansion of the company.
The increase will be through a rights issue of 172.8 million riyals.
The percentage of increase is 800% of the capital.