Saudi Cable resubmits capital cut request to CMA

Saudi Cable Co. (SCC) resubmitted on May 3 its amended capital cut request to the Capital Market Authority (CMA), the company said in a statement to Tadawul on Thursday.

The company’s board of directors on May 2 amended its recommendation on capital reduction to 46.83 percent from the previous 65.92 percent through canceling 35.59 million shares, as the first recommendation failed to comply with listing regulations.