Al-Ahsa Development mulls additional stake in TAQA

25/08/2015 Argaam

Al-Ahsa Development Co. has expressed interest in subscribing to 710,531 remaining shares in Industrialization & Energy Services Co. (TAQA) at a nominal value of SAR 10 per share.

 

The shares were not subscribed to by an investor during a recent capital increase, Al Ahsa said in a statement to Tadawul on Tuesday. The minimum number of shares allocated to the company is 9,676, or 1.36 percent of the total shares offered to the shareholders who participated in the offering.

 

It is difficult to assess any financial impact at this time, Al Ahsa added.

 

In April, Al-Ahsa purchased a 50 percent stake as part of the Saudi-based energy company’s capital increase, according to a report published by Argaam. The industrial projects developer paid SAR 20.4 million from its own resources for the transaction. 

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