Logo of Takween Advanced Industries Co.
Takween Advanced Industries Co. starts tomorrow, Feb. 19, subscription to new shares and rights trading to increase its capital by SAR 300 million.
Rights trading will end on Feb. 27, while subscription to the new shares will close on March 3.
According to data compiled by Argaam, Takween’s shareholders approved, on Feb. 13, the board’s recommendation to increase capital via a SAR 300 million rights issue.
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Capital Increase Details |
|
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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) |
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