Logo of National Agricultural Development Co. (NADEC)
National Agricultural Development Co. (NADEC) subscription to new shares ends today, Nov. 21.
Rights trading ran through Nov. 9-16, to increase the company’s capital from SAR 1.01 billion to SAR 3.01 billion.
Subscription period also started on Nov. 9.
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Capital Increase Details |
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Current Capital |
SAR 1.01 bln |
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Number of Shares |
101.64 mln |
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Capital Increase % |
196.8% |
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Capital After Increase |
SAR 3.01 bln |
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Number of Shares After Increase |
301.64 mln |
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Rights Issue Details |
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Offered shares |
200 mln |
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Offer Price |
SAR 10 |
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Size of issue |
SAR 2 bln |
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Subscription Period |
From Nov. 9 to Nov. 21 |
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Rights Trading Period |
From Nov. 9 to Nov. 16 |
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Purpose |
To enable the company to implement its strategic and operational plans and promote its future activities. |
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Eligibility ratio |
Each shareholder shall have the right to subscribe to 1.9677 shares for each existing share. |
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Record Date |
Nov. 5, 2023 |
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Expected usage of rights issue proceeds |
Expanding in dairy, juices, and agricultural products segments |
800 |
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Entry into new segments |
250 |
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Paying off debts |
730 |
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Financing general requirements |
200 |
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Offering costs |
20 |
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Total |
2000 |
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