SIDC Reduces Accumulated Losses to 7% of Capital

The Saudi Industrial Development Company (SIDC) announced on Thursday a significant reduction in its accumulated losses, which decreased from 69.08% of the capital as of June 30, 2024, to 7.00% of the current capital as of September 30, 2024. This reduction was achieved through measures taken to offset accumulated losses totaling 265 million riyals.

According to the statement published on “Tadawul,” accumulated losses as of September 30, 2024, now stand at 9.45 million riyals, representing 7.00% of the company’s capital of 135 million riyals