Riyadh – Mubasher: Qassim Agricultural Co. submitted the capital reduction portfolio to the Saudi Capital Market Authority (CMA) on Wednesday.
The company's board recommended earlier decreasing the capital 40% to SAR 300 million from SAR 500 million to offset accumulated losses.
Qassim appointed Wasatah Capital Investments as a financial consultant to manage the capital decrease, after obtaining the required approvals.
The Saudi-listed company's accumulated losses reached SAR 200.8 million in September, representing 40.16% of the capital.
