04:07 AM EDT, 08/30/2026 (MT Newswires) -- Molan Steel Co.'s (SASE:9553) board resolved to withdraw its application for a planned rights issue of 26.6 million Saudi riyals, according to a Sunday release. The Saudi Arabia-listed iron products maker requested the Capital Market Authority's approval to increase its capital through the rights issue in November 2025. The group does not plan to raise capital through this process, as it is difficult and other "more effective and faster impact" alternatives are available.

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