Saudi Cable intends to increase the company's capital by offering rights issue shares.
According to Arabiya Net, the company said in a statement that the total amount to be obtained through the increase is 360 million riyals.
The company said that the reason for the increase is the capital restructuring and the injection of new funds to provide working capital so that the company can increase the operational capacity and support the future activity of the company.
During the first six months of last year, the company's net losses amounted to 59.779 million riyals, compared to 50.415 million riyals during the same period, with a growth rate of 18.57%.
The company attributed the decline in its losses to the increase in sales volume and improvement in profit margins during the current quarter compared with the same quarter of last year, and the decrease in expenses during the current quarter compared with the same quarter of last year, and the decrease in other income compared to the same quarter of last year.
