Saudi Fisheries names ANB Capital as financial advisor for capital cut

06/05/2024 Argaam

Saudi Fisheries names ANB Capital as financial advisor for capital cut

Logo of Saudi Fisheries Co. (Alasmak)

Saudi Fisheries Co. (Alasmak) appointed, on May 6, ANB Capital to advise on the company’s capital reduction, according to a statement to Tadawul.

 

The company will later announce the submission of the capital cut application to the Capital Market Authority (CMA) for approval.

 

Saudi Fisheries’ board of directors recommended, in January 2024, a 52.89% capital cut from SAR 400 million to SAR 188.44 million to offset losses, data compiled with Argaam showed.

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