Riyadh – Mubasher: Saudi Capital Market Authority (CMA) decided obliging the listed companies of accumulated losses 50% or more of capital either to increase its capital, decrease it or dissolve the company before the term prescribed in its bylaws.
Earlier, article 150 of the companies law was discussed related to the issue of reaching accumulated losses 50% of capital.
The thirteen companies that achieved accumulated losses raised their losses to SAR 8.052 billion ($2.15 billion) in December 2016, so that they exceed their capitals of around SAR 6.89 billion.
