Takween Advanced Industries will complete the second round of its SAR 600 million rights issue on Tuesday, Oct. 11.
During the second stage, all rights holders—whether registered shareholders or investors who bought rights during the first stage—are allowed to subscribe to the new shares. However, rights cannot be traded at this stage.
The first stage of the rights issue ended on Oct. 6. The company offered 60 million shares at SAR 10 each.
In September, the company’s shareholders approved the board’s recommendation to increase capital by 171.4 percent to SAR 950 million through a SAR 600 million rights issue.
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