Logo ofMethanol Chemicals Co. (Chemanol)
Methanol Chemicals Co. (Chemanol) submitted today, Sept. 30, an application to the Capital Market Authority (CMA) to increase its capital through a rights issue at a value of SAR 350 million. 
In a statement to Tadawul, the company said that it will announce any future development in due time.
Chemanol’s board of directors recommends, in May 2024, a capital increase through a rights issue worth SAR 350 million. Meanwhile, the company has recently approved the board’s recommendation to reduce its capital to SAR 150 million from SAR 674.51 million, as per Argaam’s data.
Capital Cut Details
Current Capital
SAR 674.51 mln
Current No. of Shares
67.45 mln
New Capital
SAR 150 mln
New No. of Shares
15 mln
Reduction (%)
77.8%
Reason
Offset 90.76% of accumulated losses
Reduction Date
July 14, 2026
Method
Writing off 52.45 mln shares, or about 0.7776 share for every one held
Logo ofMethanol Chemicals Co. (Chemanol)
Methanol Chemicals Co. (Chemanol) submitted today, Sept. 30, an application to the Capital Market Authority (CMA) to increase its capital through a rights issue at a value of SAR 350 million.
In a statement to Tadawul, the company said that it will announce any future development in due time.
Chemanol’s board of directors recommends, in May 2024, a capital increase through a rights issue worth SAR 350 million. Meanwhile, the company has recently approved the board’s recommendation to reduce its capital to SAR 150 million from SAR 674.51 million, as per Argaam’s data.
Capital Cut Details
Current Capital
SAR 674.51 mln
Current No. of Shares
67.45 mln
New Capital
SAR 150 mln
New No. of Shares
15 mln
Reduction (%)
77.8%
Reason
Offset 90.76% of accumulated losses
Reduction Date
July 14, 2026
Method
Writing off 52.45 mln shares, or about 0.7776 share for every one held
