First stage of Takween’s SAR 600 mln rights issue ends today

06/10/2016 Argaam

The Saudi Stock Exchange (Tadawul) said that Takween Advanced Industries will complete the first round of its SAR 600 million rights issue on Thursday, Oct. 6.  

 

The second stage will run from Oct. 9 through Oct. 11, Argaam earlier reported.

 

Takween is offering 60 million shares at SAR 10 per share at a ratio of 1.71 share for every existing share.

 

All rights holders—whether registered shareholders or investors who bought rights during the first stage—are allowed to exercise their rights. However, rights cannot be traded at this stage.

 

In September, the company’s shareholders approved the board’s recommendation to increase capital by 171.4 percent to SAR 950 million through a SAR 600 million rights issue.

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