Riyadh – Mubasher: Etihad Atheeb Telecommunication said Sunday that it has received the approval of the Capital Markets Authority (CMA) to cut its capital by 60% from SAR 1.575 billion to SAR 630 million.

Thus, the number of shares will decline from 157.5 billion to 63 million, according to a bourse statement.

The company’s stock rose on Thursday by 0.27% to SAR 3.72.