TADCO rights trading, subscription period to start tomorrow

Logo of TADCO

Saudi Tadawul Group announced that the subscription period and rights trading for Tabuk Agricultural Development Co. (TADCO) will start tomorrow, April 12, 2021.

Rights trading will end on April 19, while subscription to the new shares will close on April 22.

Rights holders are entitled to subscribe to the new shares partially or fully on a pro rata basis. Unsubscribed shares, and share fractions, will be offered to institutional investors.

Earlier today, the Securities Depository Center Co. (Edaa) deposited TADCO’s tradable rights into the accounts of eligible securities’ holders, Argaam reported.

TADCO’s shareholders approved the board of directors’ recommendation to increase the company’s capital from SAR 241.77 million to SAR 391.77 million through a SAR 150 million rights issue, during the extraordinary general meeting held on April 6, Argaam reported.