On June 24, 2026, Takween Advanced Industries announced that its Board of Directors recommended a 67.92% share capital reduction from SAR 764,646,060 to SAR 245,268,060 to offset accumulated losses of SAR 519,378,000, which will cancel 51,937,800 shares. Following the capital reduction, the Board also recommended a SAR 400,000,000 rights issue offering to strengthen the company's financial position, support liquidity and working capital requirements, and settle banking obligations. Both proposals require approval from the Capital Market Authority, relevant regulatory authorities, and the Extraordinary General Assembly. The company has not yet appointed a financial advisor or submitted applications to the Capital Market Authority for either transaction.

Original announcement:

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