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Al-Kathiri Revises Capital Reduction to Cover Losses
Al-Khaleejiah Holding Company has decided to revise its previous recommendation to reduce its capital by 91.46%, aiming to offset some of the accumulated losses amounting to 103.37 million SAR according to preliminary results until June 30, 2026. Approximately 206.745 million shares out of the total 226.044 million shares will be canceled, decreasing the share capital from 113.022 million SAR to 9.65 million SAR. The company also recommends increasing the capital by 150 million SAR through a rights issue, with the proceeds to be used to finance its operational plans and debt repayment strategy. The reduction and increase are still subject to approval by the relevant authorities, and details of the implementation will be announced later.
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