Riyadh – Mubasher: Takween Advanced Industries said Tuesday that the first phase of its rights issue will commence today until 6 October 2016, a bourse filing revealed.
The second phase will be held during 9-11 October, the company added.
Shareholders of record until the date of the extraordinary meeting would be entitled to 1.71 rights for each owned share, the company said earlier, clarifying that the cut-off price is set at SAR 10 per share.
By this move, the company will hike its capital by 171.4% to SAR 950 million from SAR 350 million, divided into 95 million shares at SAR 10 each, the bourse filing revealed.
The stock quote was placed at SAR 14.23 on Monday, registering a 0.14% slide.
