02
Feb
08:47
Steel wire, casting maker Maadaniyah narrows accumulated losses
Saudi Arabia-based National Metal Manufacturing and Casting Company (Maadaniyah) has reduced its accumulated losses to SAR 29.37 million ($7.8m), comprising 8.3% of its capital, Kallanish notes.
To achieve this, the firm reduced its capital by SAR 47.12m and then raised it again by SAR 120m through a rights issue approved during its extraordinary general meeting on 23 November 2021, according to a bourse filing.
Headquartered in Al J…
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Anonymous
Very good overview of the weekly steel market.
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