Phoenix Holding seeks to eliminate 44m dinar losses

Home Business Phoenix Holding seeks to eliminate 44m dinar losses 31-10-2024 01:56 PM Ammon News - The Board of Directors of Phoenix Arab Holding Company has chosen to convene a special general assembly meeting in November via video call, to address changes to the company's articles of association and bylaws, decrease capital, and eliminate accrued losses by lowering capital to 42.8 million dinars until the conclusion of 2023. As per the information provided by the company to the Securities and Exchange Commission and the Amman Stock Exchange, the losses exceeded 44 million dinars. The CEO was granted permission to work with the Companies Control Department to schedule the meeting and ensure all preparations were made for it. The company has a paid-up capital of 86,840,292 million Jordanian dinars, and its investments in the Jordanian market total over 300 million Jordanian dinars. The initial public offering had a value of 670 million Jordanian dinars (equivalent to 943.6 million US dollars) and was 14 times larger than the initial offering, making it the biggest ever on the Amman Stock Exchange.

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Phoenix Holding seeks to eliminate 44m dinar losses

31-10-2024 01:56 PM

Ammon News - The Board of Directors of Phoenix Arab Holding Company has chosen to convene a special general assembly meeting in November via video call, to address changes to the company's articles of association and bylaws, decrease capital, and eliminate accrued losses by lowering capital to 42.8 million dinars until the conclusion of 2023.

As per the information provided by the company to the Securities and Exchange Commission and the Amman Stock Exchange, the losses exceeded 44 million dinars.

The CEO was granted permission to work with the Companies Control Department to schedule the meeting and ensure all preparations were made for it.

The company has a paid-up capital of 86,840,292 million Jordanian dinars, and its investments in the Jordanian market total over 300 million Jordanian dinars.

The initial public offering had a value of 670 million Jordanian dinars (equivalent to 943.6 million US dollars) and was 14 times larger than the initial offering, making it the biggest ever on the Amman Stock Exchange.

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