Riyadh- Saudi companies whose losses exceed 50% of their capital now have seven months only before being completely liquefied. Administrations of these companies are taking serious steps to enhance their financial conditions.
Asharq al-Awsat newspaper was informed that the majority of these companies will depend on decreasing or increasing their capital.
These updates coincide with the previous clarification of the Saudi Capital Market Authority (CMA) regarding the implementation of the companies new system. Joint stock companies whose losses exceed half the capital were granted one year duration to enhance their condition before resorting to liquidation.
CMA called on shareholders, heads and members of boards of directors of th…
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