Riyadh - Mubasher: Saudi Cable Company announced on Monday that its board of directors has reported the accumulated losses of SAR 293.5 million, which reached 72.6% of the company’s capital.

The accumulated losses are mainly attributed to operational losses, as well as the depreciation in value for one of the company’s major investments in Bahrain.

Saudi Cable was recently listed on the main index of the Saudi Stock Exchange (Tadawul) known as Tadawul All Share Index (TASI).

Any listed company is obligated to report accumulated losses exceeding 50% of its capital, according to the Saudi Capital Market Authority (CMA).