Takween starts rights trading, subscription to new shares on Feb. 19

18/02/2024 Argaam

Takween starts rights trading, subscription to new shares on Feb. 19

Logo of Takween Advanced Industries Co.

Takween Advanced Industries Co. starts tomorrow, Feb. 19, subscription to new shares and rights trading to increase its capital by SAR 300 million.

 

Rights trading will end on Feb. 27, while subscription to the new shares will close on March 3.

 

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%

Reason

Purchasing new assets to develop current production lines, offer new products, repay loans at high rates, and finance the working capital.

Method

SAR 300 mln rights issue

Record Date

Feb. 13, 2024 (Shareholders of record who are registered with Edaa on the second trading day following the EGM date)

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