Molan shares closed last Thursday’s session at SAR 0.85
Molan Steel Co. said its board of directors recommended on Aug. 27, 2026, increasing the company’s share par value to SAR 10 from SAR 1, in a reverse stock split that would reduce the number of shares to 2.66 million from 26.60 million. 
The company said in a statement to Tadawul that the move will not result in any change to its capital, which will remain at SAR 26.60 million.
Molan added that it will complete the relevant regulatory requirements and procedures and announce any developments in due course.
According to data available with Argaam, Molan received a notice last August that the average closing price of its shares had fallen below the minimum threshold.
The company said it has three months starting Monday, Aug. 3, 2026, to take corrective measures, pursuant to Paragraph (c) of Article 33 of the Listing Rules.
It added that the measures it plans to take to comply with the minimum average closing price requirement include a reverse stock split to achieve a closing share price of at least SAR 3 and convening an extraordinary general meeting (EGM) to vote on the board’s recommendation for the reverse stock split, unless the share price closes at SAR 3 or above during this period.
The stock closed last Thursday’s session at SAR 0.85.
Molan shares closed last Thursday’s session at SAR 0.85
Molan Steel Co. said its board of directors recommended on Aug. 27, 2026, increasing the company’s share par value to SAR 10 from SAR 1, in a reverse stock split that would reduce the number of shares to 2.66 million from 26.60 million.
The company said in a statement to Tadawul that the move will not result in any change to its capital, which will remain at SAR 26.60 million.
Molan added that it will complete the relevant regulatory requirements and procedures and announce any developments in due course.
According to data available with Argaam, Molan received a notice last August that the average closing price of its shares had fallen below the minimum threshold.
The company said it has three months starting Monday, Aug. 3, 2026, to take corrective measures, pursuant to Paragraph (c) of Article 33 of the Listing Rules.
It added that the measures it plans to take to comply with the minimum average closing price requirement include a reverse stock split to achieve a closing share price of at least SAR 3 and convening an extraordinary general meeting (EGM) to vote on the board’s recommendation for the reverse stock split, unless the share price closes at SAR 3 or above during this period.
The stock closed last Thursday’s session at SAR 0.85.
