Chairman of the Board of the Saudi Sasco Car Services & Equipment Company, Khaled Bin Ibrahim, recently stated that the Saudi ministry of commerce has accepted and confirmed the company’s request to lower its capital value from 600 million Saudi Riyals ($160 million) to SR 300 million ($80 million).
According to Al-Hayat daily, Bin Ibrahim added that the company’s board of directors had previously decided to lower its capital in order to restructure the company finances, based on interests of its stockholders. ― (MENA Report)
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