Riyadh — Mubasher: Keir International Company formally submitted a request to the Capital Market Authority (CMA) on 11 October to reduce the company's share capital.
The application follows a previous recommendation made by the board of directors on 20 September 2026.
Under the proposal, the company intends to decrease its capital from SAR 120 million to SAR 33.58 million. This adjustment will be made by canceling 86.42 million ordinary shares, effectively reducing the total number of shares from 120 million to 33.57 million.
The primary objective of capital restructuring is to offset accumulated losses, which reached SAR 86.42 million as of 30 June 2026.
The completion of the capital reduction remains subject to obtaining necessary regulatory approvals, including the final endorsement from the company’s extraordinary general meeting (EGM).
Keir International stated it will provide further updates to shareholders as significant developments occur regarding the approval process.
