Amiantit’s accumulated losses shrink to 23% of capital

Saudi Arabian Amiantit Company announced that its accumulated losses decreased

  
Saudi men inspect a screen showing stock prices at ANB Bank in Riyadh, Saudi Arabia September 16, 2019. Image for illustrative purposes.

Saudi men inspect a screen showing stock prices at ANB Bank in Riyadh, Saudi Arabia September 16, 2019. Image for illustrative purposes.

REUTERS/Ahmed Yosri
Riyadh – Mubasher: Saudi Arabian Amiantit Company announced that its accumulated losses decreased to SAR 73.32 million, equivalent to 22.91% of capital.

This followed Amiantit’s board decision on 28 March to partially offset the SAR 205.49 million accumulated losses through the entire statutory reserves that were worth SAR 132.17 million, according to a disclosure to Tadawul on Sunday.

The company announced on 25 March the procedures for reducing the accumulated losses that accounted for 64.22% of the capital back then.

In February, Amiantit said its accumulated losses reached SAR 86.39 million or 27% of capital.

Source: Mubasher

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