Takween issues prospectus for SAR 300M rights offering

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.

Capital Hike Details
Current Capital	SAR 464.65 mln
Number of shares	46.46 mln
New Capital	SAR 764.65 mln
Number of Shares after Increase	76.46 mln
Capital increase (%)	64.75 %

Rights Issue Details
Offered shares	30 mln shares
Offer Price	SAR 10
Issue Size	SAR 300 mln
Eligibility Ratio	Each listed shareholder shall have the right to subscribe to 0.6456 shares per each owned share.
Rights Issue Proceeds	Purchase of new assets to develop existing production lines	90
	Purchase of new assets to produce new products	60
	Repayment of loans	75
	Financing working capital	49.8
	Offering costs	25.2
	Total	300

Additional Information
Financial Advisor and Underwriter	Wasatah Capital
Lead Manager	Al-Nefaie Investment

Prospectus

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