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04-Jan-2016

Tabuk Cement participates in TAQA capital increase, maintains c3.4% stake

Tabuk Cement Company [3090.SE] received its additional shares in Industrialization and Energy Service Company (TAQA) after participating in a rights issue. Tabuk Cement’s stake remains 3.37% after paying cSAR101.2 million (through two instalments paid in 2Q2015 and 4Q2015, financed both internally and through bank loans) to participate in the rights issue. TAQA’s rights issue saw the company’s capital increase to SAR5 billion from SAR2 billion, following AGM approval in 2014. (Tadawul)   Tabuk Cement: SAR14.55 as of 3 January 2016, Rating: Sell, FV: SAR14.00 per share, MCap: USD349 million, TACCO AB / 3090.SE

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