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28/11/2014 06:31 AST
Zain Saudi has proposed a capital reduction to shareholders to eliminate all accumulated losses up to Sept. 30, the company said in a statement on the Kingdom’s bourse.
The move would cut its capital base by 45.9 percent. After the move, one share would equal 2.18 shares now, the statement said.
The company, 37-percent owned by Kuwait’s Zain, has yet to make a quarterly profit since launching services in 2008 and has struggled to compete against Saudi Telecom Co. (STC) and Etihad Etisalat (Mobily).
Zain Saudi made a net loss of SR316 million in the three months to Sept. 30.
Arab News
25/01/2018
Shares in Zain Saudi Arabia surged to their highest level in three weeks on Wednesday morning, after the troubled operator announced it had achieved profitability for the first time since its launch
The National
24/01/2018
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Kuwait Times
24/12/2017
Zain Group and Cisco announced that they have successfully achieved a key milestone in expanding the telecommunications operator’s IP/MPLS network with cutting edge technologies, setting the groundwo
Saudi Gazette
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
05/04/2018
SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.
Saudi Gazette
05/04/2018
Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating
Gulf Times
05/04/2018
Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told
The Peninsula
04/04/2018
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The Peninsula
04/04/2018
Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than
Gulf News