Riyadh - Mubasher: The Capital Market Authority (CMA) approved Nama Chemicals’ request to decrease its capital by 81.7%.

The capital would be reduced to SAR 235.2 million from SAR 1.29 billion and subsequently the number of shares will decrease from 128.52 million shares to 23.522 million shares.

The approval is subject to the decision of the company’s extraordinary general meeting (EGM) and the completion of necessary procedures related to applicable regulations, according to a bourse filing on Thursday.

Nama reported net profits of SAR 316,620 in March versus losses of SAR 638,390 in February 2017.