Riyadh – Mubasher: Keir International Company announced that its board of directors recently recommended a 72.02% reduction in the share capital to restructure its finances, according to a bourse filing.
Under the proposal that was reached on 17 September 2026, the capital will be decreased from SAR 120 million to SAR 33.58 million.
The capital restructuring aims to extinguish accumulated losses totaling SAR 86.42 million. The reduction will be executed by canceling 86.42 million shares, representing a cancellation rate of approximately 0.7202 shares for every one share held by investors.
Following the adjustment, the total number of outstanding shares will drop from 120 million to 33.57 million.
Keir International stated that the move will have no material impact on its financial obligations, operations, or operational performance.
The reduction is scheduled to take effect at the end of the second trading day following the extraordinary general assembly meeting.
The company has appointed Istidama Capital as its financial advisor to manage the process.
The transaction remains subject to regulatory approvals from the Capital Market Authority (CMA) and the company's shareholders.
Keir International will disclose further developments upon filing the official application with the regulator.
