Qatar Stock Exchange has scheduled Widam Food Company's capital restructuring for October 29, with trading under its revised capital structure beginning on November 1, 2026.The Doha-listed company will first reduce its share capital by QR130 million to absorb part of its accumulated losses, before converting QR30 million of debt owed to shareholder Hassad Food into equity. The two transactions will leave Widam with capital of QR80 million, compared with QR180 million before the restructuring.
Widam disclosed the implementation timetable on Thursday, October 22, following regulatory clearances and shareholder approval. The exchange said the changes would take effect after trading closes on Thursday, October 29, with the revised share capital reflected when trading opens the following Sunday.
The first stage involves cancelling 130 million ordinary shares, equivalent to 72.2 per cent of existing capital. Widam's issued capital will consequently fall from QR180 million, represented by 180 million shares, to QR50 million, divided into 50 million shares. Each share will retain a nominal value of QR1.
The subsequent increase will involve converting notes worth QR30 million, issued against financing provided by Hassad Food, into 30 million shares. Once completed, Widam will have 80 million issued shares, each carrying a nominal value of QR1. The conversion replaces the corresponding debt with equity rather than generating an equivalent amount of fresh cash.
Hassad Food is already a shareholder in Widam and is wholly owned by the Qatar Investment Authority, the country's sovereign wealth fund. Its participation makes the debt conversion a transaction involving an existing investor rather than a conventional public offering of new shares.
The company said the combined measures were intended to strengthen its financial position, reduce liabilities and improve its balance sheet. The reduction addresses part of accumulated accounting losses, while the conversion removes the corresponding financing obligation from debt and increases shareholders' equity.
Widam has not described the capital reduction as an operating profit or a cash injection. Such an accounting adjustment does not, by itself, change the underlying performance of the meat and livestock business. Its effect on the company's future finances will also depend on trading results and obligations remaining after implementation.
The restructuring received approval from Widam's extraordinary general assembly on June 8. The company also secured approval from the Ministry of Commerce and Industry and a no-objection from the Qatar Financial Markets Authority. Widam said it had coordinated the arrangements with the relevant authorities before setting the implementation date.
The announced sequence is significant for investors because the number of outstanding shares will change twice within the same restructuring exercise. The initial cancellation sharply reduces the share count, while the subsequent conversion adds shares allocated to Hassad Food. The final issued share count will be 100 million below its original level.
The transaction also changes the composition of Widam's capital. Its final nominal capital of QR80 million represents a reduction of approximately 55.6 per cent from the original QR180 million, notwithstanding the QR30 million increase following the cancellation. The announcement did not provide a revised market valuation or a forecast for the company's share price.
For existing shareholders, the capital reduction and subsequent issue of shares to Hassad Food are distinct steps. The first affects the outstanding share base; the second introduces additional equity for a creditor that already holds shares. The precise impact on individual ownership percentages depends on the allocation and shareholdings involved.
The capital restructuring follows an earlier examination of Widam's financial position. Its board appointed Access More LLC in December 2025 to study a possible restructuring, before shareholders considered the proposed changes. The latest announcement establishes the timetable for implementing the approved transactions rather than introducing an entirely new financing proposal. The company has presented the exercise primarily as a means of addressing accumulated losses and reducing its outstanding financial commitments.
Widam operates in Qatar's meat and livestock sector and is listed on the exchange under the symbol WDAM. The company's disclosures also show that it is due to release financial results for the nine months ending September 30 on October 26, ahead of the restructuring's effective date.
An investor relations conference call to discuss its third-quarter financial results is scheduled for October 27. Both dates fall before the October 29 implementation, giving shareholders a separate opportunity to review the company's operating figures alongside the announced balance-sheet changes.
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