Riyadh – Mubasher: Etihad Atheeb Telecommunication (Go) announced that its accumulated losses decreased to SAR 117.97 million, representing 33.65% of its capital, as of 24 April.
The Saudi telecom operator ascribed the decline in accumulated losses to the capital reduction to SAR 350.53 million after amortising 50% of its accumulated losses at a value of SAR 121.97 million by writing off 12.197 million shares.
On 24 April, Go’s shareholders approved a 25.81% capital reduction to SAR 350.53 million from SAR 472.5 million to amortise accumulated losses during an extraordinary general meeting (EGM).
