Riyadh - Mubasher: Takween Advanced Industries Company announced on 12 July 2026 that its board of directors has approved the appointment of Albilad Capital as the financial advisor, lead manager, and underwriter for its upcoming capital restructuring.

The mandate covers both the proposed reduction of the company’s share capital and a subsequent capital increase through a SAR 400 million rights issue.

The appointment follows a board recommendation initially disclosed on 24 June 2026. This move is part of the regulatory requirements necessary to execute the dual-phase capital adjustment. The company stated that there has been no material change in the costs associated with the event.

Takween clarified that it has not yet submitted the formal capital reduction file to the Capital Market Authority (CMA). The company intends to complete all necessary legal and regulatory procedures and will provide further updates on material developments as they occur.

The restructuring aims to optimize the company's financial position through the planned SAR 400 million equity injection.

Earlier this month, Takween received a no-objection certificate from the General Authority for Competition (GAC) regarding its acquisition of a 70% stake in Advanced Fabrics Factory Company (SAAF).