Tabuk Agriculture Development Company issued on Thursday an updated prospectus for its 125 percent capital raise from SAR 200 million to SAR 450 million through a rights issue.

The company will offer 25 million shares at SAR ten per share.
 

Eligibility will be for shareholders registered on the day of the general assembly meeting, the company said in a statement to Saudi Arabia’s bourse, Tadawul.


The Capital Market Authority, Saudi’s market regulator, approved in September the company’s SAR 250 million capital raise through a rights issue, according to data compiled by Argaam.
 

Capital Raise Details

SAR 200 mln

Current capital

20 mln

Current number of shares

125%

Percentage of the raise (%)

SAR 450 mln

New capital

Rights Issue Details

25 mln shares

Number of rights issue shares

SAR 10/share

Price per share

SAR 250 million

Rights issue size

Jan. 6, 2015

Record date

 

  1. Financing number of projects and investments inside and outside the Kingdom.

 

  1. Issuance expenses are SAR 16 mln.

Use of proceeds

Other Details

Falcom

Financial advisor, lead manager, and lead underwriter

Falcom, NCB, RIBL, Saudi Fransi, Arab National, Al Rajhi and SAMBA.

Receiving Banks

Rights Issue Periods

From Jan. 13 to Jan. 22

First period

From Jan. 25 to Jan. 27

Second period
 

 

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