Logo of Takween Advanced Industries Co.
Takween Advanced Industries Co. announced the prospectus for its capital increase through a SAR 300 million rights offering.
The company will offer 30 million shares at SAR 10 each, to increase the capital from SAR 464.65 million to SAR 764.65 million.
The proceeds will go for the purchase of new assets to develop the current production lines, purchase of new assets to produce new products, repay loans and finance working capital.
The company's shareholders will vote on the board’s recommendation to increase capital through a SAR 300 million rights offering, during an extraordinary general meeting (EGM) to be held on Feb. 13.
The Capital Market Authority (CMA) approved earlier this month the request received from the company to increase capital through a rights issue, as per Argaam's data.
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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 764.65 mln |
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Number of Shares after Increase |
76.46 mln |
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Capital increase (%) |
64.75 % |
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Rights Issue Details |
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Offered shares |
30 mln shares |
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Offer Price |
SAR 10 |
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Issue Size |
SAR 300 mln |
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Eligibility Ratio |
Each listed shareholder shall have the right to subscribe to 0.6456 shares per each owned share. |
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Rights Issue Proceeds |
Purchase of new assets to develop existing production lines |
90 |
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Purchase of new assets to produce new products |
60 |
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Repayment of loans |
75 |
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Financing working capital |
49.8 |
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Offering costs |
25.2 |
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Total |
300 |
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Additional Information |
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Financial Advisor and Underwriter |
Wasatah Capital |
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Lead Manager |
Al-Nefaie Investment |
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