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.