Riyadh - Mubasher: Al Baha Investment and Development Company submitted a request to the Saudi Capital Markets Authority (CMA) on 21 March to decrease its capital.
The company appointed on 15 March Aldukheil Financial Group as a financial consultant to manage the process of capital reduction.
Al Baha achieved SAR 1,480 in net profits last February, bringing profits of 2017 to SAR 4,400.
The board recommended reducing 40% of its capital to SAR 177 million in order to eliminate accumulated losses.
