TADCO board changes recommendation on capital hike to SAR 150 mln from SAR 100 mln

Tabuk Agricultural Development Co.'s (TADCO) board of directors amended, today, Dec. 7, its recommendation on increasing capital to SAR 150 million instead of SAR 100 million through offering rights issue shares, the company said in a filing to Tadawul.

In February 2020, TADCO board of directors recommended raising capital through SAR 100 million rights issue, Argaam reported.

On Oct. 15, the company submitted a request to increase capital through a SAR 100 million rights issue to the Capital Market Authority (CMA).

Wasatah Capital was appointed as financial advisor.