Tabuk Agricultural Development Co.'s (TADCO) logo
Tabuk Agricultural Development Co. (TADCO) issued prospectus for its SAR 150 million rights issue through offering 15 million shares, the company said in a bourse filing.
The offering price was set at SAR 10 per share, to increase capital by 62.04%, from SAR 241.77 million to SAR 391.77 million.
On Feb. 8, 2021, the Capital Market Authority (CMA) approved TADCO’s request to increase its capital through a SAR 150 million rights issue, Argaam reported.
Capital Hike Details |
|
Current Capital |
SAR 241.77 mln |
Number of shares |
24.18 mln shares |
Capital hike percentage |
62.04% of issued capital |
Capital after increase |
SAR 391.77 mln |
Number of shares after increase |
39.18 mln shares |
Rights Issue Details |
|
Number of rights shares |
15 million shares |
Offering price per share |
SAR 10 |
Issue size |
SAR 150 mln |
Record date |
Shareholders of record by the close of trading on the second day following the EGM date |
Rights issue proceeds |
SAR 62 mln to pay company’s debts and creditors |
SAR 47 mln to acquire income-generating real estate assets |
|
SAR 33 mln to be spent on operations and agricultural plan |
|
SAR 8 mln as IPO expenses |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}