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Al Sorayai’s accumulated losses drop to SAR 7.49m

Al Sorayai’s accumulated losses drop to SAR 7.49m
Al Sorayai’s accumulated losses registered SAR 159.78 million in Q2-19
ALSORAYAI GROUP
1213
-4.64% 37.00 -1.80

Riyadh – Mubasher: The accumulated losses of Al Sorayai Trading and Industrial Group fell to SAR 7.49 million accounting for 11.43% of the company’s capital.

The said decline in losses followed Al Sorayai’s extraordinary general meeting’s (EGM) approval on 29 August 2019 to reduce the firm’s capital by 70.89% to SAR 65.5 million from SAR 225 million, the company disclosed to the Saudi Stock Exchange (Tadawul) on Wednesday.

It is worth highlighting that during the second quarter of 2019, Al Sorayai’s accumulated losses registered SAR 159.78 million, representing 71% of the company’s capital before reduction.