Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved Saudi Cable Company’s request to increase its capital through a rights issue valued at SAR 250 million.

The increase will be limited to the shareholders who are registered in the shareholders registry at the Security Depository Center as of the closing of the second trading day after the extraordinary general assembly meeting, which will be determined by the board of directors at a later date, according to a statement to the Saudi Stock Exchange (Tadawul) on Monday.

It is worth noting that the company’s accumulated losses decreased to SAR 19.2 million during the third quarter (Q3) of 2019, representing around 17.36% of the new capital that was revised to SAR 110.6 million in accordance with the Board of Directors' decision in August.