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Takween Advanced Industries Revises Capital Reduction, Rights Issue Plans

MT Newswires·11/06/2026 00:39:16
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12:39 AM EST, 11/06/2026 (MT Newswires) -- Takween Advanced Industries (SASE:1201) increased its planned capital reduction to 624.2 million Saudi riyals from 519.4 million riyals after it incurred higher accumulated losses in the period ended Sept. 30. The Tadawul-listed plastics packaging and non-woven fabric company said Thursday its board recommended reducing its share capital to 140.4 million riyals from 764.6 million riyals through the cancellation of 62,424,606 shares. Takween also plans to lower its proposed capital increase through a rights issue to 300 million riyals from 400 million riyals, which would bring its share capital to 440.4 million riyals. The proposed capital restructuring remains subject to regulatory and shareholder approvals.