Takween Advanced Industries announces the results of the rump offering and the allotment of the rights issue shares
In addition, the Company announces the results of rump offering. During this period, 11,763,428 shares were offered to institutional investors. The results were as follows: Number of shares sold: 11,763,428 shares (including the remaining shares and fractional shares); The aggregated proceeds of the rump shares and fractional shares amounted to: SAR 117,634,280; The average subscription price per share (for the rump shares) is: SAR 10; Due to the coverage of the rump offering at the offer price of SAR10, no compensation will be distributed to the holders of rights who have not subscribed nor to fractional shares holders. As a result, the total proceeds of the rump offering will be paid to the Company without any compensation distribution. The newly issued shares will be deposited into the shareholders portfolios on Sunday 22/01/1438H (corresponding to 23/10/2016G).