Takween files for CMA’s approval on SAR 300 mln rights issue

24/08/2023 Argaam

Takween files for CMA’s approval on SAR 300 mln rights issue

Logo of Takween Advanced Industries Co.

Takween Advanced Industries Co. filed on Aug. 23 for the approval of the Capital Market Authority (CMA) to increase its capital by offering rights issue worth SAR 300 million.

 

Any relevant updates will be announced later, the company said in a statement to Tadawul.

 

Takween’s board of directors recommended on May 11 to increase capital from SAR 464.65 million to SAR 764.65 million via a rights issue to finance working capital and purchase the new machinery to increase sales as per the company's strategy, Argaam reported.

 

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