Takween rights issue 77.37% subscribed

Logo of Takween Advanced Industries Co.

Takween Advanced Industries Co. announced today, March 4, the results of its right issue and new shares subscription as well as details of the rump offering, as follows:

 

Offering Details

Number of Offered Shares

 30 mln

Number of Subscribed Shares

23.21 mln

Value of Subscribed Shares

SAR 232.1 mln

Coverage Ratio (%)

77.37%

Number of Rump Shares

6.79 mln

Date of Rump Offering

March 6-7, 2024
 
 

Rump shares will be offered at the minimum of the offering price to a number of institutional investors, who shall submit offers to purchase the rump shares, according to a Tadawul statement.

 

They will be allocated to institutional investors with the highest bid to the lowest. They will also be allotted proportionately to institutional investors submitting the same offer.

 

In case institutional investors have not subscribed to all rump shares, the remainder will be allocated to the underwriter that will buy them at the offering price.

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