Atheeb Telecom, Saudi Arabia's first partly private fixed-line phone operator, said on Saturday it will consider a rights issue after it compounded losses of more than three-quarters of its capital.
"There are several options to decrease the losses. There are proceedings that have to be made and a shareholders meeting that must be set," the firm's chairman Prince Abdul-Aziz bin Ahmed al Saud told Al Arabiya television.
Atheeb said in a bourse statement on Saturday that it will seek shareholders approval for a 600 million riyal ($160 million) rights issue after its accumulated losses exceeded three-quarters of its capital.
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