Edaa deposits NADEC subscribed securities for rights issue today

Logo of National Agricultural Development Co. (NADEC)

The Securities Depository Center Co. (Edaa) announced the deposit of National Agricultural Development Co.’s (NADEC) subscribed securities for the rights issue into the accounts of eligible shareholders today, Dec. 4, according to a Tadawul filing.

 

According to data compiled by Argaam, NADEC offered 200 million shares at SAR 10 per share for a total of SAR 2 billion to raise its capital from SAR 1.01 billion to SAR 3.01 billion. 

 

The rights issue was 80.73% covered, whereas 161.47 million shares out of 200 million newly offered shares were subscribed, at a value of SAR 1.61 billion. The rump offering of its rights issue was 542.4% covered. 

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