The accumulated losses of Naseej International Trading Company decreased to 0% of the capital, after the extraordinary general assembly approved the reduction of the company's capital.
According to Arabiya Net, the company had announced the results of the extraordinary general assembly meeting, which included approval to reduce the company's capital from 178 million riyals to 61 million riyals , By a reduction of 65.4%, and the number of shares after the reduction reached 6.1 million shares, and the company's capital reduction comes to extinguish the accumulated losses of 116 million riyals.
The method of downgrading is to cancel about 11.65 million shares of the company’s shares, by one share for every 1.53 shares.
and the board of directors recommended reducing the company's capital by 116.5 million riyals, and then increasing the company's capital by offering priority rights shares.
And Naseej, the global trading company, Naseej, announced, earlier, the financial results for the third quarter of this year, with losses of 38.75 million riyals, compared to 3 million riyals profits During the corresponding period.
This came after the company's revenues fell by 24.9% to 48.52 million riyals, compared to 64.65 million riyals during the same period last year, according to the company's data announced in the Saudi Stock Exchange Circulation.
