Riyadh - Mubasher: The board of Saudi Cable Co has decided to reduce the company’s capital by 46.8% from SAR 760 million to SAR 404.1 million, according to a bourse filing.

The number of shares before the reduction was 76 million shares, it will be cut to 40.41 million shares, by reducing one share per 2.14 ordinary shares, the company said in a statement to the Saudi Stock Exchange (Tadawul) on Tuesday.

The company said that the decision comes to address the qualifications and eliminate the current cumulative losses.