Ithmaar Holding reported accumulated losses of USD 826.44 million as of Q1 2026, representing 109% of its paid-up capital.
Shareholders approved a capital restructuring plan on March 8, 2026, which includes the cancellation of accumulated losses against share capital and a rights issue of up to USD 100 million, pending regulatory approvals.
Recent financial performance shows a gradual reduction in accumulated losses, with net profits contributing to decreases of USD 9.4 million in 2024, USD 1.01 million in 2025, and USD 1.2 million in 2026.
Additional recovery initiatives include a restructuring plan developed with external consultants and the sale of underlying collateral to recover financing exposures.
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