Saudi Cable Company updates on capital increase

April 1, 2014 8:33 pm

The Tadawul All-Share Index closed 0.45 per cent higher at 9,516.17 points on Tuesday, April 1. Saudi Cable Company advanced by 1.20 per cent to reach SAR12.65. Earlier in the day, Saudi Cable Company revealed its stance on the proposal of capital increase by stating that “it is in the process of finalising the restructuring of its obligations with lenders, which it expects to complete before the end of Q2 2014.” Upon completion of the financial restructuring and after meeting Capital Market Authority’s (CMA) requirements, it will initiate the process of applying to the CMA for the capital increase through a rights issue.

Gérard Al-Fil