Takween amends capital cut proposal to 81.64% to offset accumulated losses

Logo of Takween Advanced Industries Co.

Takween Advanced Industries Co. said its board of directors amended its previous capital cut proposal to SAR 624.25 million (81.64% of capital), from SAR 519.38 million, revising capital down to SAR 140.4 million.

In a statement on Tadawul today, Nov. 5, the company said the amendment follows an increase in total accumulated losses based on the preliminary financial results for 9M 2026.

The company added that no material adverse impact is expected on its obligations, operations, financial, operational, or regulatory performance as a result of the capital reduction.

The board also scaled back its subsequent rights issue proposal from SAR 400 million to SAR 300 million, bringing final capital post-increase to SAR 440.4 million.

The company said the planned capital increase is scheduled to take place after completion of the capital reduction, subject to obtaining the necessary approvals from the relevant authorities and EGM and fulfilling all related regulatory procedures.

As of the date of this announcement, the company has not submitted an application to reduce its capital to the Capital Market Authority (CMA). It noted.

that the capital reduction is subject to approval by the relevant regulatory authorities and the extraordinary general assembly. It will announce any material developments that require disclosure in due course, in accordance with the applicable regulations and instructions.

According to Argaam data, Takween's board had previously recommended reducing the company's capital from SAR 764.65 million to SAR 245.27 million, representing a reduction of 67.92%, to restructure its capital, write off SAR 519.38 million in accumulated losses, and improve its capital structure in line with its financial position. The board had subsequently recommended increasing the capital through a SAR 400 million rights issue.

The company's net losses widened to SAR 123.9 million in the first nine months of 2026, from SAR 51.4 million in the same period a year ago.