Naseej's accumulated losses shrink to 49.11% of capital

Logo of Naseej International Trading Co.

Naseej International Trading Co. announced that its accumulated losses narrowed to 49.11% of its capital as of May 13, 2025. The accumulated losses currently stand at SAR 53.52 million.

In a statement to Tadawul, the company indicated that the measures taken to slash accumulated losses included the sale of a building. The sold building will not affect operational activities, for a value of SAR 27 million. In addition to the waiver of the aforementioned building’s leased land, which led to generating a net profit of SAR 20.38 million.

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The sale process caused the company’s accumulated losses to be reduced to below 50% of capital. Thus, Article 132 of the Companies Law and the procedures and instructions issued by the Capital Market Authority related to listed companies with accumulated losses reaching 50% or more of their share capital, will not apply to the company. However, the company notes that the procedures and instructions issued by CMA related to listed companies with accumulated losses reaching 20% or more of their share capital will continue to apply to the company.

According to data available with Argaam, Naseej incurred a net loss of SAR 8.6 million in Q1 2025, against a net profit of SAR 111,000 in the year-earlier period.

The company’s accumulated losses amounted to SAR 69.69 million as of March 31, 2025, or 63.95% of capital.

To view the auditor's report on the company's financial position after accumulated losses reduction