Riyadh – Mubasher: The board of Nama Chemicals has recommended a capital reduction by 81.7% to reach SAR 235.2 million from SAR 1.29 billion.
A number of 105 million shares will be canceled to reach 23.52 million shares from 128.52 million, according to a bourse filing to Tadawul on Wednesday.
No financial impact is expected to follow the capital decrease, the company clarified.
The Saudi Stock Exchange (Tadawul) announced that trading on Nama stock is suspended for one session.
Nama’s accumulated losses stood at SAR 977.7 million that is accounting for 76.1% of its capital, after the value of Nama’s assets and properties totalled SAR 655 million, the statement added.
