Takween submits 81.64% capital cut file with CMA

Logo of Takween Advanced Industries Co.

Takween Advanced Industries Co. submitted today, Nov. 11, an application to the Capital Market Authority (CMA) for approval to reduce its capital to SAR 140.4 million from SAR 764.65 million, according to a statement to Tadawul.

The proposed capital reduction amounts to SAR 624.25 million, representing an 81.64% decrease, through the cancellation of 62.42 million shares at a ratio of 0.8164 shares for every share held.

The planned capital decrease is subject to the applicable regulatory approvals, including that of the extraordinary general meeting (EGM).

The company will announce any future developments in this regard, the statement added.

Earlier this month, the board amended its previous recommendation to reduce capital, raising the proposed reduction amount to SAR 624.25 million from SAR 519.38 million, with the company's post-reduction capital to stand at SAR 140.4 million, Argaam data showed.

The move comes amid an increase in accumulated losses, according to the preliminary financial results for the period ended Sept. 30, 2026.

The company's net loss widened to SAR 123.9 million in the first nine months of 2026, compared with SAR 51.4 million in the same period of 2025.