"Tarqeen Finance Company Appoints Advisor for Capital Restructuring Management"

Taqweem Advanced Industries announced the appointment of Albilad Financial as a financial advisor, subscription manager, and coverage lead as part of a capital restructuring plan. This plan involves a reduction of capital followed by an increase through a rights issue of 400 million Riyals. According to the statement, Albilad Financial will manage the subscription process and coordinate with regulatory authorities to ensure the offering is fully covered. The company is currently working on completing regulatory requirements and submitting the plan to the Saudi Capital Market Authority for approval. These measures aim to strengthen the company's financial position and provide liquidity for its future projects.

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