Riyadh – Mubasher: The extraordinary general meeting (EGM) of Takween Advanced Industries agreed on the board's proposal to increase the company's capital through a rights issue, according to a bourse filing on Sunday.
The company so 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.
Shareholders of record until the day when the extraordinary meeting is held would be entitled to the rights issue, which aims at reaching the optimal capital structure and reducing debt value.
