Karsu Tekstil Gets Approval for Capital-Article Amendment
The regulator approved a change to Karsu Tekstil’s charter after a cash rights issue lifted its issued capital to 137,984,613.05 lira.
Key takeaways
- The SPK approved an amendment to Karsu Tekstil’s capital article on October 12.
- A cash rights issue increased issued capital from 35,100,498.42 lira to 137,984,613.05 lira.
Karsu Tekstil said Turkey’s Capital Markets Board (SPK) approved an amendment to Article 6 of its charter, which covers capital. The approval came on October 12, after a cash rights issue increased the company’s issued capital to 137,984,613.05 lira from 35,100,498.42 lira.
The company said the increase was 102,884,114.63 lira. Shareholders could exercise their rights from August 3 to August 17, and unsold shares were canceled on August 21.
A rights issue creates new shares in exchange for cash, rather than distributing money to shareholders. The company’s disclosure does not specify another step following the SPK’s approval.
This article was produced with the help of AI technology. Source: Yahoo Finance
