Logo of Takween Advanced Industries Co.
Takween Advanced Industries Co.’s shareholders approved the board’s recommendation to increase capital via a SAR 300 million rights issue, according to a statement to Tadawul.
The approval came during the extraordinary general meeting (EGM) held on Feb. 13.
|
Capital Increase Details |
|
|
Current Capital |
SAR 464.65 mln |
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No. of Shares |
46.46 mln |
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New Capital |
SAR 764.65 mln |
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New No. of Shares |
76.46 mln |
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Percentage of Increase |
64.75% |
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Reason |
Purchasing new assets to develop current production lines, offer new products, repay loans at high rates, and finance the working capital. |
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Method |
SAR 300 mln rights issue |
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Record Date |
Feb. 13, 2024 (Shareholders of record who are registered with Edaa on the second trading day following the EGM date) |
Shareholders also endorsed the remaining agenda items.
The Saudi Exchange (Tadawul) said that fluctuation limits will be calculated today, Feb. 14, based on a share price of SAR 16.12, adding that the outstanding orders will be canceled. Thus, Takween rights will be deposited into investor portfolios on Feb. 18.
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