Takween deposits proceeds from fractional shares sale

22/08/2023 Argaam

Logo of Takween Advanced Industries Co.

Takween Advanced Industries Co. concluded today, Aug. 22, the sale of the fractional shares resulting from the company’s capital decrease, which was approved by the extraordinary general assembly meeting (EGM) on July 27. 

 

Takween sold 12,924 shares at an average price of SAR 16.95 apiece. 

 

Last July, the company's shareholders approved reducing capital by 51.09% from SAR 950 million to SAR 464.6 million, through writing off 48.54 million shares to amortize 99.99% of accumulated losses, followed by a capital increase, according to data compiled by Argaam. 

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