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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