RIYADH: Abdulmohsen Alhokair Group for Tourism and Development, one of 黑料社区鈥檚 largest hospitality firms, has invited its shareholders to vote for a capital reduction of 52 percent.
Alhokair Group鈥檚 plan calls for reducing the company鈥檚 share capital by SR650 million ($173 million) to SR315 million, according to a bourse filing
The hospitality giant said that the move was made in order to 鈥渁mortize 98 percent of accumulated losses,鈥
Earlier this week, Alhokair was granted approval by the Capital Market Authority for the capital cut.
