Logo of TADCO

Tabuk Agricultural Development Co.’s (TADCO) rights trading period ends today, April 19, 2021.

 

Rights trading started on April 12, to increase the company’s capital from SAR 241.77 million to SAR 391.77 million, through a rights issue of 15 million shares at SAR 10 per share.

 

Rights issue subscription period, which also started on April 12, will end on April 22, 2021.

 

Rights holders are entitled to subscribe to the new shares partially or fully pro rata. The remaining shares will be reoffered to institutional investors.

 

Key Figures of Capital Increase

Current capital

SAR 241.77 mln

Number of shares

24.17 mln

Increase (%)

62.04% (0.62 right for every existing share)

New capital

SAR 391.77 mln

New shares

39.17 mln

Rights Issue Details

Number of shares

15 mln

Issue price

SAR 10/share

Issue size

SAR 150 mln

Start of shares subscription and trading period

April 12, 2021

End of trading period

April 19, 2021

End of subscription period

April 22, 2021

Record date

April 6, 2021

Use of proceeds

- To spend on operating and agricultural plan.

(The agricultural plan includes planting wheat and fruits seeds. Operating plan consists of managing the agricultural process, including maintenance of equipment deployed for planting, harvest, irrigation and transport of crops.)

- To repay debts and loans of the company and to acquire income-generating real estate business.

 

For More IPOs

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Related News

TADCO launches rights trading, subscription today

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request