Naseej recommends capital hike via SAR 163.5M rights issue

Logo of Naseej International Trading Co.

Naseej International Trading Co.’s board of directors today, Oct. 23, recommended increasing its capital via offering SAR 163.5 million in rights issue shares.

In a statement to Tadawul, the company explained that the move seeks to settle financial obligations and support its future growth strategy.

The board’s recommendation is subject to the approval of the relevant regulatory authorities and Naseej’s shareholders at the extraordinary general meeting (EGM).

The company also noted that it will announce later the appointment of the financial advisor for the rights issue and the submission of the capital increase application file to CMA.

The rights shares’ record date will be the day of the EGM that approves the capital increase, and for those whose names appear in the issuer's shareholder register at the Depository Center (Edaa), at the end of the second trading day following the EGM date.

In January 2024, the company’s shareholders rejected the board’s recommendation to increase the capital through a SAR 163.5 million rights issue, data available with Argaam showed.

The company’s accumulated losses reached SAR 53.37 million as of June 30, 2025, or 48.98% of capital. These losses were mainly attributed to lower production and sales, which were partially offset by lowering operating expenses, along with logging gains from selling fixed assets.