Riyadh — Mubasher: Molan Steel Company recently announced it had received a notification from the Saudi Exchange (Tadawul) on 3 August 2026 regarding its average closing share price falling below the minimum required threshold.

Under Paragraph (C) of Article 33 of the Listing Rules, the company has been granted a three-month corrective period starting from 3 August 2026 to address the price deficiency, according to a bourse disclosure.

To regain compliance, Molan Steel intends to execute a reverse stock split to ensure the closing price reaches at least SAR 3.

This measure is subject to the approval of an Extraordinary General Assembly, which will vote on the board's recommendation for the share consolidation.

The company further noted that the action will reduce the total number of outstanding shares and increase the individual share value, while the total capital of the company will remain unchanged.

The corrective measures will not be required if the share price naturally rises to SAR 3 or higher during the three-month window.

Molan Steel warned that failure to comply with the Listing Rules could result in the suspension of trading and a move to over-the-counter trading.

Earlier, the listed steel company unveiled its comprehensive strategic plan to address its critical financial position after accumulated losses reached 99.21% of its capital.