28 May 2012
(MENAFN) Zain Saudi stated that it gained the approval of the Kingdom’s Capital Market Authority (CMA) for its multi-billion dollar capital restructuring plan, reported Arabian Business.
The telecoms operator said that it will ask its shareholders to back up the plan, which will slash Zain’s issued share capital from USD3.73 billion to USD1.28 billion.
It added that it will use the proceeds from its USD1.60 billion rights issue to lessen its debts, adding that its accumulated losses stand at USD2.69 billion at the current time.
It is worth noting that according to bourse rules, listed companies must reduce their capital if losses surpass 75 percent of share capital.
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
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