Takween rump offering 280.61% oversubscribed

Logo of Takween Advanced Industries Co.

Takween Advanced Industries Co. announced that the rump offering of its recent rights issue was 280.61% oversubscribed, according to a statement to Tadawul today, March 12.

 

Offering Details

Number of Shares Sold

6.79 mln

Total Rump Offering Proceeds

SAR 76.80 mln

Coverage Ratio (%)

280.61%

Average Price/Share Sold

SAR 11.31

Net Compensation for Holders of Rights & Fractional Shares

SAR 8.91 mln

Date of Depositing Shares into Shareholders Accounts

March 14, 2024
 
 

Subscription to the rights issue ended on March 3, according to Argaam's data.

 

During the subscription period, which began on Feb. 19, the company offered 30 million shares at SAR 10 each, totaling SAR 300 million. The issuance came to increase capital from SAR 464.65 million to SAR 764.65 million.

 

The subscription coverage reached 77.37% of the total offered shares, with 23.21 million out of 30 million new shares subscribed for SAR 232.1 million.

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