Article 241 of Companies Law

If an increase in the company's capital is decided upon and some shareholders do not exercise their pre-emptive right to subscribe for the capital increase shares, the unsubscribed shares shall be allotted to those shareholders of the company who wish to subscribe for them. If subscription applications exceed the number of shares offered, the shares shall be allotted to subscribers in proportion to their subscriptions. In all cases where the new shares are not fully subscribed for, the board of directors may allot the unsubscribed shares new shareholders, and the unsubscribed new shares shall be deemed cancelled by operation of law.