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MESC’s accumulated losses reach SAR 175m

MESC’s accumulated losses reach SAR 175m
(Photo Credit: Company website)
MESC
2370
70.81% 27.50 11.40

Riyadh – Mubasher: Middle East Specialized Cables Company (MESC) announced that its accumulated losses reached SAR 175 million, representing 29% of capital.

The company attributed the losses to its stake in the losses of its Jordon’s subsidiary throughout the previous years, according to a bourse filing on Wednesday.

MESC noted that it will apply a number of procedures and instructions issued by the capital Market Authority (CMA) concerning the listed companies of which accumulated losses reached 20% or more of capital.