Takween Advanced Industries Co. filed a request on Monday with Saudi Arabia’s Capital Market Authority (CMA), the kingdom’s market regulator, to raise its capital to SAR 600 million through a rights issue, it said in a statement to Tadawul.
The company will announce any related developments in due course, it added.
Last month, Takween said it was in the final stages of due diligence procedures for the capital hike. It had also appointed HSBC as the manager and financial consultant for the rights issue.
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