Riyadh – Mubasher: National Metal Manufacturing and Casting Company (Maadaniyah) has decreased its accumulated losses to SAR 29.38 million, equivalent to 8.298% of the capital.
To decrease the accumulated losses, the company has cut the capital by SAR 47.12 million then raised the capital by SAR 120 million through a rights issue, according to a bourse filing on Monday.
It is noteworthy to mention that on 23 November 2021, the company's extraordinary general meeting (EGM) approved the reduction and increase of capital.
