Naseej unveils board plan to tackle accumulated losses

Logo of Naseej International Trading Co.

Naseej International Trading Co. announced today, Dec. 25, the board of directors’ recommendations to address accumulated losses, according to a statement to Tadawul.

The board proposed increasing capital by SAR 163.46 million through a rights issue to settle the company’s financial obligations and support its future growth strategy, noting that more related details had been previously announced.

It also called for boosting sales volumes, reducing operating expenses, and considering all other potential measures, including seeking partners in business activities and exploring alternative financing solutions.

The company noted that April 28, 2026, is the last date on which the board may call an extraordinary general meeting (EGM) to consider the company’s continuity, adding that it will be subject to the procedures and instructions issued by the Capital Market Authority (CMA) for listed companies whose accumulated losses have reached 20% or more of their capital.

According to Argaam’s data, Naseej’s accumulated losses stood at SAR 69.71 million for the first nine months of this year, representing 63.97% of its capital.