Logo of Takween Advanced Industries Co.
Takween Advanced Industries Co. starts today, Feb. 19, subscription to new shares and rights trading to increase its capital by SAR 300 million from SAR 464.65 million to SAR 764.65 million.
Rights trading will end on Feb. 27, while subscription to the new shares will close on March 3.
The company will offer 30 million shares at SAR 10 each, to increase capital by 64.75%, at 0.6456 right for every share owned.
The proceeds will go for the purchase of new assets to develop the current production lines, purchase of new assets to manufacture new products, repay loans and finance working capital.
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.
Capital Increase Details |
|
Current Capital |
SAR 464.65 mln |
No. of Shares |
46.46 mln |
New Capital |
SAR 764.65 mln |
New No. of Shares |
76.46 mln |
Percentage of Increase |
64.75% |
Rights Issue Details |
||
Offered shares |
30 mln |
|
Offer Price |
SAR 10/share |
|
Issue Size |
SAR 300 mln |
|
Eligibility Ratio |
0.6456 right for every share owned |
|
Record Date |
Feb. 13, 2024 (Including shareholders registered with Edaa by the end of second trading following the EGM) |
|
Purpose |
Purchase assets to develop current production lines, purchase assets to manufacture new products, repay loans and finance working capital |
|
Rights Issue Proceeds |
Purchase of new assets to develop existing production lines |
90 |
Purchase of new assets to produce new products |
60 |
|
Repayment of loans |
75 |
|
Financing working capital |
49.8 |
|
Offering costs |
25.2 |
|
Total |
300 |
Additional Information |
|
Financial Advisor and Underwriter |
Wasatah Capital |
Lead Manager |
Al-Nefaie Investment |
Rightholders may exercise their subscription right, in whole or in part, to the new shares in proportion to the rights existing in their portfolios. For registered shareholders and new investors, rights trading and new shares subscription will be as per the prospectus.
Any unsubscribed shares and fractional shares will be offered to institutional investors, in accordance with the details set in the prospectus. Wasatah Capital will underwrite the new shares that remain unsubscribed after the rump offering.
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}