Naseej International cuts accumulated losses to 49.5% of capital

NASEEJ
1213 3.67% 12.15 0.43

Riyadh – Mubasher: The accumulated losses of Naseej International Trading Company fell to SAR 134.81 million, representing 49.48% of its total capital.

This reduction follows a significant capital restructuring aimed at improving the company's financial position as of 30 September 2026.

The company achieved this reduction by increasing its capital by SAR 163.46 million through a rights issue. The capital hike was approved during an extraordinary general assembly meeting held on 26 August 2026.

Following the issuance of 27.24 million shares, the total capital hit SAR 272.43 million.

According to a report by the external auditor, the procedures involved matching the trial balance and verifying the accuracy of the consolidated statement of financial position.

The report confirmed that the accumulated losses of SAR 134.81 million now sit below the 50% threshold of capital required by the Capital Market Authority (CMA) for listed companies.

Naseej International also accounted for rights issue costs totaling SAR 10.74 million, which were deducted from shareholders' equity rather than the profit and loss statement.

In the first nine months (9M) of 2026, the group’s net losses jumped by 247.45% to SAR 30.11 million from SAR 8.67 million in 9M-25.

Source: Mubasher Source: {{details.article.source}}