Al-Jouf Agricultural Plans SAR 45M Capital Increase

Al-Jouf Agricultural Development Co. filed on 3 September 2026 with the Capital Market Authority to raise its capital from SAR 300 million to SAR 345 million by issuing new shares, with pre-emptive rights suspended. The increase represents 15% of the current capital, at a total offer value of SAR 236.25 million.

The offering covers 4.5 million ordinary shares with a nominal value of SAR 10 each, priced at SAR 52.5 The proposed subscriber is Almunajem Foods Company, which would fully subscribe to all the new shares.

The capital increase remains subject to approval from the Capital Market Authority, the Saudi Exchange, and the company's extraordinary general assembly, in addition to the investor's own internal approvals. The eligibility date for voting will be the day of the extraordinary general assembly that approves the increase.

Molan Steel proposes reverse split

Separately, Molan Steel Co. proposed a reverse stock split that would raise the par value of its shares from SAR 1 to SAR 10. The move would cut the number of shares from 26.60 million to 2.66 million, while total capital stays unchanged at SAR 26.60 million.

These corporate moves matter to investors in the Saudi market, as capital changes can reshape ownership structures and the number of tradable shares. Both proposals still require the relevant regulatory and shareholder approvals before taking effect.

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