A 66% capital reduction of Zain Company (from SAR 14bn to SAR 4.8bn) was approved in the Extraordinary general assembly meeting that was held on 4/7/2012 to absorb most of the company's losses.

 

The Capital reduction is to take place by cancelling one share to each 1.5219 shares.

 

By this procedure the number of outstanding shares will be decreased from 1,400,000,000 shares to 480,100,000.

 

The BOD also approved SAR 6bn rights issue at SAR 10 par value to raise the company’s capital as follows:

  • SAR 3.5 as IPO for registered shareholders.
  • SAR 2.5 of shareholders loans will be capitalized.

 

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request