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.
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Capital Raise Details |
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SAR 200 mln |
Current capital |
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20 mln |
Current number of shares |
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125% |
Percentage of the raise (%) |
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SAR 450 mln |
New capital |
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Rights Issue Details |
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25 mln shares |
Number of rights issue shares |
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SAR 10/share |
Price per share |
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SAR 250 million |
Rights issue size |
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Jan. 6, 2015 |
Record date |
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Use of proceeds |
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Other Details |
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Falcom |
Financial advisor, lead manager, and lead underwriter |
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Falcom, NCB, RIBL, Saudi Fransi, Arab National, Al Rajhi and SAMBA. |
Receiving Banks |
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Rights Issue Periods |
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From Jan. 13 to Jan. 22 |
First period |
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From Jan. 25 to Jan. 27 |
Second period |
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