Keir notified of low average closing share price

Logo of Keir International Co. 

Keir International Co. announced it received a notice from the Saudi Exchange (Tadawul) on Oct. 26, stating that its average closing share price had fallen below the minimum threshold.

In a statement to Tadawul, the company said the three-month period to take corrective action begins on Oct. 27, 2026, under Article 33 of the Listing Rules.

The company intends to consolidate its shares to achieve a closing price of at least SAR 3 per share. It will convene an extraordinary general assembly (EGM) to vote on the board’s recommendation to consolidate the shares, unless the closing price rises to SAR 3 or above during the specified period.

The share consolidation will reduce the total number of shares and increase the value per share, without changing the company’s capital.

Keir further indicated that failure to comply with Article 33 of the Listing Rules will trigger procedures to suspend trading in its listed securities, while allowing its shares to trade off-platform in accordance with the applicable procedures.

The company affirmed its commitment to taking the necessary measures to meet the minimum average closing price requirements and to disclosing any material developments in due course.

According to Argaam data, Keir shares closed at SAR 0.77 on Oct. 26, bringing its share price decline over the past year to about 81%.

The company listed its shares on the Nomu-Parallel Market in 2022. It has 120 million shares, with a nominal value of SAR 1 per share.