Tabuk Agricultural Development Company announced that its accumulated losses decreased to 36.49 million riyals, representing 15.1% of the capital, as at the end of last March.
The company said in a statement to the Saudi Market (Tadawul) today, Sunday, that the decline in accumulated losses is due to the reduction of capital.
The company’s board of directors in February recommended increasing the capital by offering priority rights shares worth 100 million riyals.
It is worth noting that Tabuk Agriculture incurred losses by about 179.79 million riyals in the past year, compared to losses of 62.7 million riyals in 2018, an increase in losses of 186.8%.
