Logo of Takween Advanced Industries Co.
Takween Advanced Industries Co.’s shareholders are set to vote on the board of directors’ recommendation to increase the company’s capital through a SAR 300 million rights offering, during the extraordinary general meeting (EGM) to be held on Feb. 13.
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Capital Hike Details |
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Current Capital |
SAR 464.65 mln |
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Number of Shares |
46.46 mln |
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New Capital |
SAR 764.6 mln |
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New Number of Shares |
76.46 mln |
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Percentage Increase |
64.75 % |
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Purpose of Capital Hike |
To purchase new assets aimed at enhancing current production lines and developing new products; settle high-interest loans, and finance working capital |
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Method |
SAR 300 mln rights issue |
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Record Date |
Feb. 13, 2024 (Shareholders who are registered with the Securities Depository Center (Edaa) by the close of trading on the second trading day after the EGM date) |
In May 2023, Takween’s board of directors recommended increasing capital from SAR 464.65 million to SAR 764.65 million through a SAR 300 million rights issue to fund working capital and buy extra equipment to boost sales, according to data compiled by Argaam.
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