{"url":"https://newsforagent.com/news/2026-11-05/takween-amends-capital-cut-proposal","markdown_url":"https://newsforagent.com/news/2026-11-05/takween-amends-capital-cut-proposal.md","title":"Takween Amends Capital Cut to 81.64% to Offset Losses","headline":"Takween Advanced Industries Raises Capital Cut to 81.64%, Trims Rights Issue to SAR 300 Million","description":"Takween Advanced Industries amended its capital cut to 81.64%, writing off SAR 624.25 million in accumulated losses and scaling its rights issue to SAR 300 million.","section":"Restructuring","published_at":"2026-11-05T18:08:37+00:00","modified_at":"2026-11-05T18:08:37+00:00","author":"News Desk","key_takeaways":["Takween Advanced Industries amended its capital cut to SAR 624.25 million, or 81.64% of capital, reducing capital from SAR 764.65 million to SAR 140.4 million.","The board scaled back its planned rights issue from SAR 400 million to SAR 300 million, bringing final capital post-increase to SAR 440.4 million.","Takween's net losses widened to SAR 123.9 million in the first nine months of 2026 from SAR 51.4 million a year earlier."],"companies":[{"name":"Takween Advanced Industries Co.","is_primary":true,"profile_url":"https://akta.pro/company-profiles/003fmkg/takween-advanced-industries-co","website":"http://www.takweenai.com"}],"source":{"publisher":"Argaam","title":"Takween amends capital cut proposal to 81.64% to offset accumulated losses","url":"https://www.argaam.com/en/article/articledetail/id/1950998"},"other_sources":[],"tags":["Restructuring","Takween Advanced Industries Co."],"body_markdown":"[Takween Advanced Industries Co.](https://akta.pro/company-profiles/003fmkg/takween-advanced-industries-co) amended its capital cut proposal to SAR 624.25 million, or 81.64% of capital, reducing capital from SAR 764.65 million to SAR 140.4 million to write off accumulated losses, [Argaam](https://www.argaam.com/en/article/articledetail/id/1950998) reported on November 5, 2026. The board also scaled back its subsequent rights issue from SAR 400 million to SAR 300 million.\n\n## Takween's Amended Capital Cut and Rights Issue\n\nThe amendment follows an increase in total accumulated losses based on preliminary financial results for the first nine months of 2026, the company said in a statement on Tadawul. The reduction cancels 62.42 million shares, representing 81.64% of capital, with 0.81639 shares canceled for each share held. The new share count falls to 14.04 million from 76.46 million.\n\nTakween said it expects no material adverse impact on its obligations, operations, financial, operational or regulatory performance from the capital reduction. The reduction is subject to approval by the relevant regulatory authorities and the extraordinary general assembly, and the company said it has not yet submitted an application to the Capital Market Authority. The reduction takes effect by the end of the second trading day following the EGM that decides on the cut.\n\nThe planned capital increase is scheduled to take place after completion of the capital reduction, subject to obtaining the necessary approvals from the relevant authorities and the EGM and fulfilling all related regulatory procedures. The company said it will announce any material developments that require disclosure in due course.\n\n## Takween's Earlier 67.92% Proposal\n\nAccording to [akta.pro company records](https://akta.pro/company-data), Takween's board had previously recommended reducing capital from SAR 764.65 million to SAR 245.27 million, a 67.92% reduction aimed at offsetting SAR 519.378 million in accumulated losses. The same records show a planned SAR 400 million rights issue following that reduction. The company's net losses widened to SAR 123.9 million in the first nine months of 2026, from SAR 51.4 million in the same period a year ago.\n\n## Takween's Path to the November Amendment\n\nOn June 24, 2026, the board recommended the 67.92% capital cut from SAR 764.65 million to SAR 245.27 million alongside a SAR 400 million rights issue, Argaam reported. On July 12, 2026, Takween clarified that it had not yet appointed a financial advisor for the proposed 67.92% reduction aimed at offsetting accumulated losses of SAR 519.378 million, AInvest reported. On August 11, 2026, Takween reported a net loss of SAR 62.19 million for the first half of 2026, widening from the previous year despite a 49% increase in revenue driven by the consolidation of SAAF, Sahmcapital reported.\n\n## Takween's Regulatory Approval Steps\n\nThe capital reduction remains subject to approval by the relevant regulatory authorities and the extraordinary general assembly, and Takween has not yet submitted an application to the Capital Market Authority. The reduction date falls by the end of the second trading day following the EGM that will decide on the capital cut.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}