Karel Electronic Industry and Trade Inc. (KAREL), a technology company listed on Borsa Istanbul, announced a 100% rights issue for capital increase in a notification to the Public Disclosure Platform on January 15, 2024.
In the statement, the company disclosed information regarding the unused new shares and officially confirmed the eagerly anticipated rights issue for capital increase. According to the Public Disclosure Platform (KAP) announcement:
“With the registered capital ceiling of 2,000,000,000 Turkish Liras, and the issued capital of 402,942,765.175 Turkish Liras; without restricting the new subscription rights and entirely paid in cash (rights issue), the capital will be increased by 402,942,765.175 Turkish Liras (100.00%) to reach 805,885,530.35 Turkish Liras. The process of exercising the new subscription rights, which started on December 27, 2023, was completed on January 10, 2024.
After the exercise of the new subscription rights, the remaining unused new subscription rights amount to 1,355,255,278 Turkish Liras. These remaining shares will be offered for sale on January 17-18, 2024, for a period of two business days through Osmanlı Yatırım Menkul Değerler A.Ş. via the ‘Stock Exchange Sales’ method at Borsa Istanbul’s Primary Market, at a price not less than 1.00 Turkish Lira nominal value.
Due to the amount and proportion of the remaining shares after the exercise of the new subscription rights being below the threshold set by the Capital Markets Board’s II-5.1 ‘Prospectus and Issuance Document Regulation’ Article 15, there is no need for a ‘sale announcement to the public.’ Instead, these shares will be offered for sale on Borsa Istanbul’s Primary Market without the necessity of a public announcement, but a necessary special disclosure will be made.”
source: tr.investing.com / prepared by Melisa Beğiç